Municipal Employees Retirement System of Michigan lowered its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 30.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 650 shares of the restaurant operator’s stock after selling 290 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Chipotle Mexican Grill were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Cutter & CO Brokerage Inc. increased its position in Chipotle Mexican Grill by 1.3% during the 2nd quarter. Cutter & CO Brokerage Inc. now owns 763 shares of the restaurant operator’s stock worth $317,000 after purchasing an additional 10 shares in the last quarter. Simmons Bank increased its position in Chipotle Mexican Grill by 1.1% during the 2nd quarter. Simmons Bank now owns 1,257 shares of the restaurant operator’s stock worth $523,000 after purchasing an additional 14 shares in the last quarter. Pacer Advisors Inc. increased its position in Chipotle Mexican Grill by 6.2% during the 2nd quarter. Pacer Advisors Inc. now owns 498 shares of the restaurant operator’s stock worth $207,000 after purchasing an additional 29 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Chipotle Mexican Grill by 0.7% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,012 shares of the restaurant operator’s stock worth $2,085,000 after purchasing an additional 33 shares in the last quarter. Finally, Sii Investments Inc. WI increased its position in Chipotle Mexican Grill by 2.5% during the 2nd quarter. Sii Investments Inc. WI now owns 1,462 shares of the restaurant operator’s stock worth $600,000 after purchasing an additional 35 shares in the last quarter. 88.69% of the stock is owned by institutional investors.

CMG has been the subject of several recent research reports. BMO Capital Markets reaffirmed a “market perform” rating and issued a $275.00 price objective (down previously from $330.00) on shares of Chipotle Mexican Grill in a research report on Wednesday, October 25th. Robert W. Baird set a $300.00 price objective on shares of Chipotle Mexican Grill and gave the company a “hold” rating in a research report on Wednesday, October 25th. Wedbush reaffirmed a “hold” rating and issued a $290.00 price objective on shares of Chipotle Mexican Grill in a research report on Wednesday, November 29th. Canaccord Genuity lowered their price objective on shares of Chipotle Mexican Grill from $400.00 to $325.00 and set a “hold” rating for the company in a research report on Wednesday, October 25th. Finally, SunTrust Banks set a $355.00 price objective on shares of Chipotle Mexican Grill and gave the company a “buy” rating in a research report on Wednesday, October 25th. Seven analysts have rated the stock with a sell rating, twenty-four have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $355.69.

Chipotle Mexican Grill, Inc. (NYSE CMG) opened at $319.70 on Thursday. The company has a market capitalization of $8,988.80, a P/E ratio of 54.89, a PEG ratio of 2.74 and a beta of 0.49. Chipotle Mexican Grill, Inc. has a one year low of $263.00 and a one year high of $499.00.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Tuesday, October 24th. The restaurant operator reported $1.33 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.24 by ($0.91). The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.14 billion. Chipotle Mexican Grill had a net margin of 3.37% and a return on equity of 11.80%. The business’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.56 earnings per share. analysts expect that Chipotle Mexican Grill, Inc. will post 6.63 EPS for the current year.

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About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc (Chipotle), together with its subsidiaries, operates Chipotle Mexican Grill restaurants. The Company’s Chipotle Mexican Grill restaurants serve a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads. As of December 31, 2016, the Company managed its operations and restaurants based on 11 regions.

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

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