State of Michigan Retirement System Acquires 7,700 Shares of Chipotle Mexican Grill, Inc. $CMG

State of Michigan Retirement System boosted its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 435,300 shares of the restaurant operator’s stock after purchasing an additional 7,700 shares during the period. State of Michigan Retirement System’s holdings in Chipotle Mexican Grill were worth $24,442,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. raised its holdings in Chipotle Mexican Grill by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator’s stock valued at $450,868,000 after buying an additional 491,002 shares during the last quarter. Corient IA LLC bought a new position in Chipotle Mexican Grill in the 1st quarter valued at approximately $753,000. Advisors Asset Management Inc. raised its holdings in Chipotle Mexican Grill by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator’s stock valued at $3,784,000 after buying an additional 18,458 shares during the last quarter. Hilltop National Bank bought a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $2,579,000. Finally, Banco Santander S.A. raised its holdings in Chipotle Mexican Grill by 47.6% in the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator’s stock valued at $1,595,000 after buying an additional 10,246 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Down 2.6%

Shares of CMG stock opened at $31.67 on Monday. The company has a market cap of $42.47 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 2.65 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52 week low of $31.01 and a 52 week high of $66.74. The firm has a 50 day moving average of $40.37 and a 200-day moving average of $46.64.

Chipotle Mexican Grill (NYSE:CMG) last posted its quarterly earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 44.32%. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the firm posted $0.27 EPS. Chipotle Mexican Grill’s revenue was up 7.5% compared to the same quarter last year. Analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on CMG. KeyCorp dropped their price objective on shares of Chipotle Mexican Grill from $52.00 to $45.00 and set an “overweight” rating for the company in a report on Thursday. Raymond James Financial restated an “outperform” rating and set a $40.00 price target (down previously from $52.00) on shares of Chipotle Mexican Grill in a report on Thursday. BTIG Research lowered their price target on shares of Chipotle Mexican Grill from $57.00 to $45.00 and set a “buy” rating for the company in a report on Thursday. Guggenheim lowered their price target on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating for the company in a report on Friday, July 25th. Finally, Evercore ISI lowered their price target on shares of Chipotle Mexican Grill from $53.00 to $45.00 and set an “outperform” rating for the company in a report on Thursday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average target price of $49.81.

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.