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

State of Michigan Retirement System raised its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,525 shares of the restaurant operator’s stock after acquiring an additional 685 shares during the quarter. 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 & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in CMG. State Street Corp raised its holdings in shares of Chipotle Mexican Grill by 0.8% in the 1st quarter. State Street Corp now owns 1,122,221 shares of the restaurant operator’s stock worth $734,381,000 after purchasing an additional 9,242 shares during the period. Capital International Investors raised its stake in shares of Chipotle Mexican Grill by 3.5% in the first quarter. Capital International Investors now owns 1,046,788 shares of the restaurant operator’s stock valued at $685,018,000 after buying an additional 35,188 shares during the period. Capital World Investors purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at $192,969,000. Wells Fargo & Company MN grew its stake in shares of Chipotle Mexican Grill by 48.0% during the 1st 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. increased its holdings in Chipotle Mexican Grill by 4.3% in the 1st quarter. Waddell & Reed Financial Inc. now owns 245,919 shares of the restaurant operator’s stock worth $160,929,000 after acquiring an additional 10,194 shares during the last quarter. 95.28% of the stock is owned by hedge funds and other institutional investors.

Shares of Chipotle Mexican Grill stock opened at $1,155.16 on Friday. The firm has a market capitalization of $32.22 billion, a PE ratio of 128.21, a price-to-earnings-growth ratio of 5.75 and a beta of 1.22. The company has a current ratio of 1.59, a quick ratio of 1.56 and a debt-to-equity ratio of 1.65. Chipotle Mexican Grill, Inc. has a 12 month low of $415.00 and a 12 month high of $1,187.00. 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 issued its earnings results on Wednesday, July 22nd. The restaurant operator reported $0.40 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.05. The business had revenue of $1.36 billion during 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%. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 10.43 earnings per share for the current fiscal year.

In other news, Director Albert S. Baldocchi sold 517 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $1,059.13, for a total value of $547,570.21. Following the completion of the sale, the director now owns 72,431 shares of the company’s stock, valued at approximately $76,713,845.03. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Matthew H. Paull sold 400 shares of the stock in a transaction dated Tuesday, May 19th. The shares were sold at an average price of $1,018.75, for a total value of $407,500.00. Following the sale, the director now owns 869 shares of the company’s stock, valued at $885,293.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,066 shares of company stock worth $5,235,881. 1.00% of the stock is owned by insiders.

Several research firms have recently weighed in on CMG. KeyCorp lifted their target price on shares of Chipotle Mexican Grill from $1,250.00 to $1,300.00 and gave the stock an “overweight” rating in a research note on Thursday, July 23rd. Zacks Investment Research reiterated a “sell” rating and issued a $822.38 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, April 21st. William Blair restated a “buy” rating on shares of Chipotle Mexican Grill in a research report on Wednesday, June 10th. Telsey Advisory Group lifted their price target on Chipotle Mexican Grill from $800.00 to $1,000.00 and gave the company a “market perform” rating in a research report on Thursday, June 18th. Finally, Cfra dropped their price objective on Chipotle Mexican Grill from $950.00 to $900.00 and set a “hold” rating on the stock in a report on Wednesday, April 22nd. One research analyst has rated the stock with a sell rating, eighteen have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $1,059.20.

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.

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

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