State of Michigan Retirement System Raises Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

State of Michigan Retirement System lifted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,525 shares of the restaurant operator’s stock after purchasing an additional 685 shares during the period. State of Michigan Retirement System’s holdings in Chipotle Mexican Grill were worth $6,867,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Chipotle Mexican Grill by 0.8% during the 1st quarter. State Street Corp now owns 1,122,221 shares of the restaurant operator’s stock valued at $734,381,000 after buying an additional 9,242 shares in the last quarter. Capital International Investors raised its holdings in Chipotle Mexican Grill by 3.5% during the first quarter. Capital International Investors now owns 1,046,788 shares of the restaurant operator’s stock valued at $685,018,000 after acquiring an additional 35,188 shares during the period. Capital World Investors purchased a new position in shares of Chipotle Mexican Grill in the first quarter valued at about $192,969,000. Wells Fargo & Company MN boosted its stake in shares of Chipotle Mexican Grill by 48.0% in the first quarter. Wells Fargo & Company MN now owns 282,560 shares of the restaurant operator’s stock worth $184,907,000 after acquiring an additional 91,705 shares during the period. Finally, Waddell & Reed Financial Inc. grew its position in shares of Chipotle Mexican Grill by 4.3% during the first quarter. Waddell & Reed Financial Inc. now owns 245,919 shares of the restaurant operator’s stock worth $160,929,000 after purchasing an additional 10,194 shares in the last quarter. Hedge funds and other institutional investors own 95.28% of the company’s stock.

Shares of NYSE CMG opened at $1,155.16 on Friday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $415.00 and a fifty-two week high of $1,187.00. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.56 and a current ratio of 1.59. The company has a market cap of $32.22 billion, a price-to-earnings ratio of 128.21, a PEG ratio of 5.75 and a beta of 1.22. The business’s 50 day moving average price is $1,080.66 and its 200-day moving average price is $899.88.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 22nd. The restaurant operator reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.05. The business had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.33 billion. Chipotle Mexican Grill had a return on equity of 17.24% and a net margin of 4.55%. Sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 10.43 earnings per share for the current year.

Several research analysts have weighed in on CMG shares. Morgan Stanley upped their price target on Chipotle Mexican Grill from $630.00 to $688.00 and gave the stock an “equal weight” rating in a research note on Monday, July 20th. Stephens raised their target price on shares of Chipotle Mexican Grill from $780.00 to $1,200.00 and gave the company an “equal weight” rating in a research note on Thursday, July 23rd. JPMorgan Chase & Co. boosted their price target on shares of Chipotle Mexican Grill from $1,020.00 to $1,040.00 and gave the stock a “neutral” rating in a research note on Thursday, July 23rd. They noted that the move was a valuation call. Cowen increased their price objective on shares of Chipotle Mexican Grill from $950.00 to $1,160.00 and gave the company an “outperform” rating in a report on Wednesday, June 3rd. Finally, William Blair reaffirmed a “buy” rating on shares of Chipotle Mexican Grill in a report on Wednesday, June 10th. One analyst has rated the stock with a sell rating, eighteen have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $1,059.20.

In other news, Director Matthew H. Paull sold 400 shares of the firm’s stock in a transaction on Tuesday, May 19th. The stock was sold at an average price of $1,018.75, for a total transaction of $407,500.00. Following the transaction, the director now owns 869 shares in the company, valued at $885,293.75. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Scott Boatwright sold 2,723 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $1,033.44, for a total value of $2,814,057.12. Following the transaction, the insider now owns 8,085 shares in the company, valued at approximately $8,355,362.40. The disclosure for this sale can be found here. Insiders have sold a total of 5,066 shares of company stock valued at $5,235,881 in the last quarter. 1.00% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc, together with its subsidiaries, operates Chipotle Mexican Grill restaurants. As of December 31, 2018, it operated 2,491 restaurants, including 2,452 Chipotle restaurants in the United States, 37 Chipotle restaurants internationally, and two non-Chipotle restaurants. The company was founded in 1993 and is headquartered in Newport Beach, California.

See Also: Sell-Side Analysts

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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