Summit Global Investments Takes Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Summit Global Investments bought a new stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,950 shares of the restaurant operator’s stock, valued at approximately $310,000.

Several other institutional investors and hedge funds have also bought and sold shares of CMG. Swedbank AB bought a new position in shares of Chipotle Mexican Grill during the first quarter valued at about $53,979,000. Transform Wealth LLC lifted its position in Chipotle Mexican Grill by 4,760.7% during the second quarter. Transform Wealth LLC now owns 9,527 shares of the restaurant operator’s stock valued at $597,000 after buying an additional 9,331 shares during the period. First Hawaiian Bank grew its position in shares of Chipotle Mexican Grill by 4,731.0% in the 2nd quarter. First Hawaiian Bank now owns 17,150 shares of the restaurant operator’s stock worth $1,074,000 after buying an additional 16,795 shares during the period. Valeo Financial Advisors LLC increased its stake in shares of Chipotle Mexican Grill by 4,747.7% in the 2nd quarter. Valeo Financial Advisors LLC now owns 20,409 shares of the restaurant operator’s stock worth $1,279,000 after acquiring an additional 19,988 shares in the last quarter. Finally, MJP Associates Inc. ADV lifted its position in Chipotle Mexican Grill by 5,588.0% during the 2nd quarter. MJP Associates Inc. ADV now owns 12,798 shares of the restaurant operator’s stock valued at $802,000 after acquiring an additional 12,573 shares during the period. 91.31% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 17,394 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $54.68, for a total value of $951,103.92. Following the completion of the transaction, the insider now directly owns 358,300 shares in the company, valued at approximately $19,591,844. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.02% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have commented on CMG shares. Argus boosted their target price on Chipotle Mexican Grill from $73.36 to $77.76 and gave the stock a “buy” rating in a report on Tuesday, June 18th. StockNews.com downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “hold” rating in a research note on Thursday, July 4th. BTIG Research raised their price target on shares of Chipotle Mexican Grill from $65.00 to $67.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. UBS Group upped their price objective on Chipotle Mexican Grill from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, April 25th. Finally, TD Cowen reduced their target price on Chipotle Mexican Grill from $72.00 to $65.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Ten investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $62.36.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG traded up $1.82 during mid-day trading on Wednesday, reaching $53.76. 9,480,083 shares of the company traded hands, compared to its average volume of 15,171,387. The company’s 50 day moving average price is $122.11 and its 200-day moving average price is $80.76. The firm has a market cap of $73.83 billion, a PE ratio of 57.07, a PEG ratio of 2.23 and a beta of 1.24. Chipotle Mexican Grill, Inc. has a 52 week low of $35.37 and a 52 week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 24th. The restaurant operator reported $0.34 EPS for the quarter, beating the consensus estimate of $0.32 by $0.02. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. The firm had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. During the same period last year, the firm earned $12.65 EPS. The company’s revenue was up 18.2% on a year-over-year basis. On average, research analysts predict that Chipotle Mexican Grill, Inc. will post 1.09 earnings per share for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc, together with its subsidiaries, owns and operates Chipotle Mexican Grill restaurants. It sells food and beverages through offering burritos, burrito bowls, quesadillas, tacos, and salads. The company also provides delivery and related services its app and website. It has operations in the United States, Canada, France, Germany, and the United Kingdom.