California Public Employees Retirement System Trims Stake in Chipotle Mexican Grill, Inc. (NYSE:CMG)

California Public Employees Retirement System reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 2.7% in the 2nd quarter, Holdings Channel reports. The firm owned 63,219 shares of the restaurant operator’s stock after selling 1,735 shares during the period. California Public Employees Retirement System’s holdings in Chipotle Mexican Grill were worth $98,011,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Clearbridge Investments LLC raised its stake in Chipotle Mexican Grill by 28.7% during the 2nd quarter. Clearbridge Investments LLC now owns 1,044 shares of the restaurant operator’s stock valued at $1,619,000 after acquiring an additional 233 shares during the last quarter. LPL Financial LLC raised its stake in Chipotle Mexican Grill by 2.5% during the 2nd quarter. LPL Financial LLC now owns 6,242 shares of the restaurant operator’s stock valued at $9,677,000 after acquiring an additional 154 shares during the last quarter. Franklin Resources Inc. raised its stake in Chipotle Mexican Grill by 3.9% during the 2nd quarter. Franklin Resources Inc. now owns 178,030 shares of the restaurant operator’s stock valued at $276,007,000 after acquiring an additional 6,694 shares during the last quarter. Stifel Financial Corp increased its position in Chipotle Mexican Grill by 10.8% during the 2nd quarter. Stifel Financial Corp now owns 30,145 shares of the restaurant operator’s stock worth $46,735,000 after purchasing an additional 2,948 shares during the period. Finally, Bridgewater Associates LP increased its position in Chipotle Mexican Grill by 48.5% during the 2nd quarter. Bridgewater Associates LP now owns 55,453 shares of the restaurant operator’s stock worth $85,971,000 after purchasing an additional 18,101 shares during the period. 90.32% of the stock is owned by institutional investors and hedge funds.

Shares of NYSE:CMG opened at $1,810.55 on Thursday. Chipotle Mexican Grill, Inc. has a 12 month low of $1,172.29 and a 12 month high of $1,958.55. The stock has a market cap of $50.87 billion, a price-to-earnings ratio of 88.06, a PEG ratio of 3.73 and a beta of 1.36. The stock’s 50 day moving average price is $1,879.21 and its 200 day moving average price is $1,630.83.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Monday, July 19th. The restaurant operator reported $7.46 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $6.52 by $0.94. Chipotle Mexican Grill had a return on equity of 28.27% and a net margin of 8.57%. The firm had revenue of $1.89 billion for the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 38.7% compared to the same quarter last year. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 25.48 earnings per share for the current fiscal year.

In other news, CEO Brian R. Niccol sold 10,421 shares of the business’s stock in a transaction on Thursday, July 22nd. The shares were sold at an average price of $1,800.87, for a total transaction of $18,766,866.27. Following the transaction, the chief executive officer now directly owns 39,524 shares in the company, valued at approximately $71,177,585.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Pershing Square Capital Manage purchased 25,430 shares of the stock in a transaction dated Tuesday, September 7th. The shares were bought at an average price of $1,909.68 per share, for a total transaction of $48,563,162.40. The disclosure for this purchase can be found here. In the last 90 days, insiders sold 31,003 shares of company stock worth $57,382,197. 1.00% of the stock is currently owned by company insiders.

A number of equities research analysts recently weighed in on the company. Stephens upped their price target on Chipotle Mexican Grill from $1,850.00 to $2,000.00 and gave the stock an “overweight” rating in a report on Tuesday, October 5th. Morgan Stanley increased their target price on Chipotle Mexican Grill from $1,646.00 to $1,790.00 and gave the company an “equal weight” rating in a report on Wednesday. BMO Capital Markets increased their target price on Chipotle Mexican Grill from $1,460.00 to $1,750.00 and gave the company a “market perform” rating in a report on Wednesday, July 21st. Piper Sandler reissued an “overweight” rating and set a $2,600.00 price target (up previously from $2,235.00) on shares of Chipotle Mexican Grill in a research note on Wednesday, September 15th. They noted that the move was a valuation call. Finally, BTIG Research increased their price target on Chipotle Mexican Grill from $1,850.00 to $2,150.00 and gave the stock a “buy” rating in a research note on Wednesday, September 8th. Nine analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill presently has a consensus rating of “Buy” and a consensus target price of $1,882.57.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

Further Reading: What does a hold rating mean?

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

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