Parnassus Investments LLC Has $67.88 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Parnassus Investments LLC raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 307.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 1,834,533 shares of the restaurant operator’s stock after buying an additional 1,384,178 shares during the period. Parnassus Investments LLC owned about 0.14% of Chipotle Mexican Grill worth $67,878,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of CMG. Bank of Nova Scotia boosted its position in shares of Chipotle Mexican Grill by 11.0% in the 3rd quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock worth $18,642,000 after purchasing an additional 47,241 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $1,597,000. Norges Bank bought a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $711,837,000. Crescent Park Management L.P. bought a new position in shares of Chipotle Mexican Grill in the 3rd quarter worth $5,911,000. Finally, WINTON GROUP Ltd boosted its position in shares of Chipotle Mexican Grill by 269.6% in the 3rd quarter. WINTON GROUP Ltd now owns 379,886 shares of the restaurant operator’s stock worth $14,888,000 after purchasing an additional 277,090 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. TD Cowen reaffirmed a “buy” rating and set a $44.00 price objective on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Morgan Stanley set a $37.00 price objective on Chipotle Mexican Grill and gave the stock an “equal weight” rating in a research note on Wednesday, June 3rd. Piper Sandler dropped their price objective on Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Thursday, April 30th. Wall Street Zen raised Chipotle Mexican Grill from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, Barclays dropped their price objective on Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 30th. Twenty-four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.48.

Chipotle Mexican Grill Trading Up 2.9%

Shares of Chipotle Mexican Grill stock opened at $31.30 on Friday. The stock’s fifty day simple moving average is $32.76 and its 200 day simple moving average is $35.21. Chipotle Mexican Grill, Inc. has a 12 month low of $28.03 and a 12 month high of $58.42. The company has a market capitalization of $40.15 billion, a PE ratio of 28.72, a PEG ratio of 1.96 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.07 billion. During the same quarter last year, the business posted $0.29 EPS. The company’s revenue for the quarter was up 7.4% on a year-over-year basis. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.