Azzad Asset Management Inc. ADV Makes New Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Azzad Asset Management Inc. ADV bought a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 58,809 shares of the restaurant operator’s stock, valued at approximately $2,953,000.

A number of other large investors have also added to or reduced their stakes in the business. Raymond James Financial Inc. bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $315,220,000. Vinva Investment Management Ltd lifted its stake in Chipotle Mexican Grill by 50.6% during the 4th quarter. Vinva Investment Management Ltd now owns 65,069 shares of the restaurant operator’s stock valued at $3,910,000 after acquiring an additional 21,864 shares in the last quarter. Woodard & Co. Asset Management Group Inc. ADV bought a new position in Chipotle Mexican Grill during the 4th quarter valued at $715,000. ING Groep NV raised its stake in shares of Chipotle Mexican Grill by 203.4% during the 4th quarter. ING Groep NV now owns 524,132 shares of the restaurant operator’s stock worth $31,605,000 after purchasing an additional 351,382 shares during the period. Finally, K.J. Harrison & Partners Inc raised its stake in shares of Chipotle Mexican Grill by 46.7% during the 4th quarter. K.J. Harrison & Partners Inc now owns 50,250 shares of the restaurant operator’s stock worth $3,009,000 after purchasing an additional 16,000 shares during the period. Institutional investors own 91.31% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CMG shares. Loop Capital lowered their price objective on Chipotle Mexican Grill from $65.00 to $63.00 and set a “buy” rating on the stock in a research note on Thursday, April 24th. UBS Group cut their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. cut their price objective on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a report on Thursday, May 29th. Redburn Atlantic started coverage on Chipotle Mexican Grill in a research note on Tuesday. They issued a “neutral” rating and a $55.00 target price for the company. Finally, Royal Bank of Canada lowered their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an “outperform” rating for the company in a research report on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $61.37.

Chipotle Mexican Grill Stock Down 1.3%

NYSE:CMG opened at $50.24 on Friday. Chipotle Mexican Grill, Inc. has a 52 week low of $44.46 and a 52 week high of $69.26. The company has a market capitalization of $67.70 billion, a P/E ratio of 45.26, a P/E/G ratio of 2.04 and a beta of 1.06. The stock’s fifty day moving average is $50.38 and its two-hundred day moving average is $54.33.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, topping the consensus estimate of $0.28 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. The firm had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the firm posted $13.37 EPS. Chipotle Mexican Grill’s revenue for the quarter was up 6.4% on a year-over-year basis. Sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Activity

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the sale, the insider now directly owns 109,815 shares of the company’s stock, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.

Chipotle Mexican Grill 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.