Norges Bank Makes New $1.09 Billion Investment in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Norges Bank purchased a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 18,131,759 shares of the restaurant operator’s stock, valued at approximately $1,093,345,000.

Several other large investors have also recently made changes to their positions in CMG. United Bank lifted its stake in Chipotle Mexican Grill by 13.7% during the third 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. Algert Global LLC acquired a new position in Chipotle Mexican Grill during the 3rd quarter worth about $1,555,000. Brown Brothers Harriman & Co. lifted its stake in Chipotle Mexican Grill by 5.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 5,308 shares of the restaurant operator’s stock worth $306,000 after acquiring an additional 258 shares in the last quarter. Truvestments Capital LLC purchased a new position in Chipotle Mexican Grill during the 3rd quarter valued at about $37,000. Finally, The Manufacturers Life Insurance Company grew its position in Chipotle Mexican Grill by 10.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,451,977 shares of the restaurant operator’s stock valued at $83,663,000 after acquiring an additional 140,975 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 1.8 %

NYSE:CMG opened at $50.98 on Friday. The company has a market capitalization of $69.10 billion, a PE ratio of 45.92, a P/E/G ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a 52-week low of $47.55 and a 52-week high of $69.26. The stock’s 50 day moving average price is $53.97 and its 200 day moving average price is $57.57.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on CMG shares. Citigroup increased their price target on shares of Chipotle Mexican Grill from $69.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price target on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Oppenheimer upped their price objective on Chipotle Mexican Grill from $65.00 to $69.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Loop Capital upgraded Chipotle Mexican Grill from a “hold” rating to a “buy” rating and lifted their target price for the company from $58.00 to $65.00 in a report on Friday, March 14th. Finally, Barclays cut their price target on Chipotle Mexican Grill from $63.00 to $60.00 and set an “equal weight” rating on the stock in a report on Wednesday, February 5th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and a consensus price target of $66.67.

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.