Resona Asset Management Co. Ltd. Takes $24.24 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Resona Asset Management Co. Ltd. bought a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 401,572 shares of the restaurant operator's stock, valued at approximately $24,242,000.

A number of other hedge funds also recently modified their holdings of the stock. United Bank grew its position in shares of Chipotle Mexican Grill by 13.7% during the 3rd quarter. United Bank now owns 36,851 shares of the restaurant operator's stock worth $2,123,000 after purchasing an additional 4,451 shares in the last quarter. Quarry LP grew its position in Chipotle Mexican Grill by 108.4% during the third quarter. Quarry LP now owns 1,219 shares of the restaurant operator's stock worth $70,000 after buying an additional 634 shares in the last quarter. Weiss Asset Management LP bought a new position in Chipotle Mexican Grill during the 3rd quarter worth $3,124,000. Kovitz Investment Group Partners LLC acquired a new position in Chipotle Mexican Grill in the 3rd quarter valued at $14,238,000. Finally, EP Wealth Advisors LLC lifted its position in shares of Chipotle Mexican Grill by 1.9% during the 3rd quarter. EP Wealth Advisors LLC now owns 45,313 shares of the restaurant operator's stock valued at $2,611,000 after acquiring an additional 866 shares during the period. Institutional investors and hedge funds own 91.31% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on CMG. Sanford C. Bernstein restated an "outperform" rating and set a $70.00 target price on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Royal Bank of Canada reiterated an "outperform" rating and issued a $75.00 price target on shares of Chipotle Mexican Grill in a research report on Tuesday, January 28th. Barclays decreased their price objective on shares of Chipotle Mexican Grill from $63.00 to $60.00 and set an "equal weight" rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lowered their target price on Chipotle Mexican Grill from $64.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, March 20th. Finally, Loop Capital upgraded shares of Chipotle Mexican Grill from a "hold" rating to a "buy" rating and upped their price objective for the company from $58.00 to $65.00 in a report on Friday, March 14th. Eight research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.10.

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Chipotle Mexican Grill Trading Up 10.8 %

Shares of NYSE:CMG traded up $4.96 during mid-day trading on Wednesday, reaching $50.94. The company had a trading volume of 24,577,986 shares, compared to its average volume of 13,419,605. The firm has a market cap of $69.04 billion, a price-to-earnings ratio of 45.88, a PEG ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a one year low of $44.46 and a one year high of $69.26. The company's 50-day moving average price is $52.13 and its 200-day moving average price is $57.00.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 EPS for the quarter, topping the consensus estimate of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. On average, research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

About Chipotle Mexican Grill

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.