Korea Investment CORP Invests $24.54 Million in Chipotle Mexican Grill, Inc. $CMG

Korea Investment CORP acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 721,628 shares of the restaurant operator’s stock, valued at approximately $24,535,000. Korea Investment CORP owned approximately 0.06% of Chipotle Mexican Grill at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator’s stock worth $5,349,764,000 after purchasing an additional 18,660,882 shares in the last quarter. BlackRock Inc. bought a new position in Chipotle Mexican Grill during the 2nd quarter valued at $4,417,475,000. Capital World Investors boosted its stake in Chipotle Mexican Grill by 15.8% during the 4th quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator’s stock valued at $3,762,457,000 after purchasing an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Chipotle Mexican Grill by 18.8% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator’s stock valued at $2,162,572,000 after purchasing an additional 9,237,720 shares during the period. Finally, Capital International Investors increased its position in shares of Chipotle Mexican Grill by 17.7% during the 4th quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator’s stock valued at $1,675,895,000 after purchasing an additional 6,796,285 shares during the period. Institutional investors and hedge funds own 91.30% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on CMG shares. UBS Group restated a “buy” rating on shares of Chipotle Mexican Grill in a report on Friday, July 31st. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Citigroup dropped their price target on shares of Chipotle Mexican Grill from $46.00 to $45.00 and set a “buy” rating on the stock in a research report on Monday, July 13th. BNP Paribas Exane upped their price target on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a report on Thursday, April 30th. Finally, Guggenheim restated a “neutral” rating and set a $36.00 price objective (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Twenty-four equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has a consensus rating of “Moderate Buy” and an average target price of $44.16.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG opened at $36.84 on Monday. The company has a market cap of $46.62 billion, a PE ratio of 33.80, a price-to-earnings-growth ratio of 2.35 and a beta of 0.94. The firm has a 50 day simple moving average of $33.80 and a 200 day simple moving average of $33.96. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $43.72.

Chipotle Mexican Grill (NYSE:CMG) last issued its quarterly earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%.The business had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the company posted $0.33 earnings per share. Chipotle Mexican Grill’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Chipotle Mexican Grill Company 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.