Norges Bank Invests $1.09 Billion in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Norges Bank bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 18,131,759 shares of the restaurant operator’s stock, valued at approximately $1,093,345,000. Norges Bank owned about 1.33% of Chipotle Mexican Grill at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CMG. Ethos Financial Group LLC acquired a new position in shares of Chipotle Mexican Grill in the 4th quarter valued at about $31,000. Sound Income Strategies LLC lifted its holdings in Chipotle Mexican Grill by 1,110.0% in the fourth quarter. Sound Income Strategies LLC now owns 605 shares of the restaurant operator’s stock valued at $36,000 after acquiring an additional 555 shares during the period. Murphy & Mullick Capital Management Corp acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $38,000. Truvestments Capital LLC purchased a new stake in Chipotle Mexican Grill in the 3rd quarter worth approximately $37,000. Finally, Financial Life Planners acquired a new stake in shares of Chipotle Mexican Grill during the 4th quarter worth approximately $45,000. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Trading Up 1.8 %

Shares of CMG stock opened at $50.98 on Friday. Chipotle Mexican Grill, Inc. has a twelve month low of $47.55 and a twelve month high of $69.26. The company’s 50-day moving average price is $53.97 and its 200-day moving average price is $57.57. The stock has a market cap of $69.10 billion, a price-to-earnings ratio of 45.92, a PEG ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last posted its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMG. Citigroup increased their price target on shares of Chipotle Mexican Grill from $69.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Evercore ISI increased their target price on shares of Chipotle Mexican Grill from $70.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. Jefferies Financial Group lifted their price target on Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a research note on Monday, December 16th. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 5th. Finally, Truist Financial boosted their price objective on Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research report on Wednesday, December 4th. Eight research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Chipotle Mexican Grill Company Profile

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.