The Manufacturers Life Insurance Company Buys 140,975 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

The Manufacturers Life Insurance Company boosted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 10.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,451,977 shares of the restaurant operator’s stock after purchasing an additional 140,975 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Chipotle Mexican Grill were worth $83,663,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new stake in Chipotle Mexican Grill during the first quarter worth approximately $168,000. Jaffetilchin Investment Partners LLC bought a new stake in Chipotle Mexican Grill during the first quarter worth approximately $305,000. Railway Pension Investments Ltd bought a new stake in Chipotle Mexican Grill during the first quarter worth approximately $1,163,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Chipotle Mexican Grill during the second quarter worth approximately $25,000. Finally, Riverview Trust Co boosted its position in Chipotle Mexican Grill by 4,900.0% during the second quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock worth $25,000 after purchasing an additional 392 shares during the period. Institutional investors own 91.31% of the company’s stock.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $62.04 on Thursday. The stock has a fifty day moving average price of $58.73 and a two-hundred day moving average price of $81.01. Chipotle Mexican Grill, Inc. has a 52-week low of $43.66 and a 52-week high of $69.26. The firm has a market capitalization of $84.53 billion, a P/E ratio of 57.74, a P/E/G ratio of 2.49 and a beta of 1.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, October 29th. The restaurant operator reported $0.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.25 by $0.02. Chipotle Mexican Grill had a return on equity of 43.20% and a net margin of 13.51%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted $0.23 earnings per share. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.11 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Curtis E. Garner sold 15,750 shares of the stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $55.02, for a total transaction of $866,565.00. Following the completion of the transaction, the insider now directly owns 473,514 shares in the company, valued at $26,052,740.28. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the transaction, the director now directly owns 41,510 shares of the company’s stock, valued at $2,340,333.80. This represents a 4.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 33,290 shares of company stock worth $1,866,023 over the last three months. 1.02% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CMG shares. Oppenheimer reaffirmed an “outperform” rating and set a $65.00 target price on shares of Chipotle Mexican Grill in a research report on Monday, September 30th. TD Cowen increased their price objective on Chipotle Mexican Grill from $65.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Wedbush reissued an “outperform” rating and issued a $69.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, October 30th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $67.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, August 14th. Finally, Citigroup reduced their price objective on 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. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $65.27.

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.