Parnassus Investments LLC Takes Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Parnassus Investments LLC acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,736 shares of the restaurant operator's stock, valued at approximately $964,000.

Several other hedge funds have also recently added to or reduced their stakes in CMG. Semmax Financial Advisors Inc. boosted its position in Chipotle Mexican Grill by 225.0% during the first quarter. Semmax Financial Advisors Inc. now owns 13 shares of the restaurant operator's stock worth $42,000 after acquiring an additional 9 shares during the last quarter. Crewe Advisors LLC acquired a new stake in Chipotle Mexican Grill during the first quarter worth about $44,000. LRI Investments LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $168,000. Pacific Center for Financial Services grew its holdings in shares of Chipotle Mexican Grill by 8.0% during the 1st quarter. Pacific Center for Financial Services now owns 54 shares of the restaurant operator's stock worth $157,000 after purchasing an additional 4 shares during the period. Finally, Western Pacific Wealth Management LP grew its holdings in shares of Chipotle Mexican Grill by 27.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 70 shares of the restaurant operator's stock worth $203,000 after purchasing an additional 15 shares during the period. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock traded up $0.15 during trading hours on Wednesday, reaching $58.88. The company had a trading volume of 6,215,433 shares, compared to its average volume of 13,763,686. Chipotle Mexican Grill, Inc. has a 12-month low of $43.66 and a 12-month high of $69.26. The company has a 50-day moving average price of $58.26 and a 200 day moving average price of $81.10. The firm has a market cap of $80.23 billion, a price-to-earnings ratio of 55.03, a P/E/G ratio of 2.36 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Tuesday, October 29th. The restaurant operator reported $0.27 EPS for the quarter, beating analysts' consensus estimates of $0.25 by $0.02. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.82 billion. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm's revenue for the quarter was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.11 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Curtis E. Garner sold 15,750 shares of Chipotle Mexican Grill stock in a transaction on Monday, October 7th. The shares were sold at an average price of $57.05, for a total transaction of $898,537.50. Following the transaction, the insider now owns 457,764 shares in the company, valued at $26,115,436.20. This trade represents a 3.33 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Robin S. Hickenlooper sold 1,790 shares of the business's stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the transaction, the director now owns 41,510 shares of the company's stock, valued at approximately $2,340,333.80. This trade represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,290 shares of company stock worth $1,866,023 in the last 90 days. Insiders own 1.02% of the company's stock.

Analysts Set New Price Targets

CMG has been the topic of a number of recent research reports. KeyCorp reduced their price target on shares of Chipotle Mexican Grill from $68.00 to $66.00 and set an "overweight" rating on the stock in a research report on Thursday, July 25th. Citigroup decreased their price target on shares of Chipotle Mexican Grill from $71.00 to $70.00 and set a "buy" rating for the company in a research report on Wednesday, October 30th. Oppenheimer reissued an "outperform" rating and issued a $65.00 price objective on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. Royal Bank of Canada initiated coverage on Chipotle Mexican Grill in a research report on Friday, November 15th. They issued an "outperform" rating and a $70.00 target price for the company. Finally, Wells Fargo & Company raised their target price on Chipotle Mexican Grill from $66.00 to $67.00 and gave the company an "overweight" rating in a report on Wednesday, October 30th. Ten analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $65.27.

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.