ICICI Prudential Asset Management Co Ltd Invests $3 Million in Chipotle Mexican Grill, Inc. $CMG

ICICI Prudential Asset Management Co Ltd purchased a new position in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 81,000 shares of the restaurant operator’s stock, valued at approximately $2,997,000.

Other hedge funds have also modified their holdings of the company. Wealth Watch Advisors INC acquired a new stake in Chipotle Mexican Grill during the third quarter worth about $25,000. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Murphy & Mullick Capital Management Corp raised its stake in shares of Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator’s stock valued at $30,000 after acquiring an additional 400 shares during the last quarter. Winthrop Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $31,000. Finally, Ameriflex Group Inc. raised its stake in shares of Chipotle Mexican Grill by 109.4% in the third quarter. Ameriflex Group Inc. now owns 890 shares of the restaurant operator’s stock valued at $35,000 after acquiring an additional 465 shares during the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the stock. DA Davidson assumed coverage on shares of Chipotle Mexican Grill in a research note on Friday, March 6th. They issued a “buy” rating and a $51.00 target price for the company. Mizuho upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $37.00 to $40.00 in a research note on Friday, March 20th. BTIG Research reiterated a “buy” rating and issued a $45.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. BNP Paribas Exane lifted their target price on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Finally, Stifel Nicolaus reiterated a “buy” rating on shares of Chipotle Mexican Grill in a research note on Monday, March 9th. Twenty-four research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $45.48.

Chipotle Mexican Grill Stock Performance

CMG opened at $31.30 on Friday. The company has a fifty day moving average price of $32.76 and a two-hundred day moving average price of $35.21. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $58.42. The firm has a market capitalization of $40.15 billion, a PE ratio of 28.72, a P/E/G ratio of 1.96 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced 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 net margin of 11.96% and a return on equity of 49.64%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.07 billion. During the same quarter in the previous year, the business earned $0.29 EPS. The firm’s revenue was up 7.4% on a year-over-year basis. Equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current 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.