Chipotle Mexican Grill, Inc. $CMG Stock Position Boosted by State of Alaska Department of Revenue

State of Alaska Department of Revenue lifted its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 181.8% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 422,295 shares of the restaurant operator’s stock after buying an additional 272,454 shares during the period. State of Alaska Department of Revenue’s holdings in Chipotle Mexican Grill were worth $13,492,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. acquired a new position in shares of Chipotle Mexican Grill in the 2nd quarter valued at approximately $4,417,475,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Chipotle Mexican Grill by 19.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator’s stock valued at $527,469,000 after acquiring an additional 2,727,762 shares during the last quarter. Amundi boosted its stake in Chipotle Mexican Grill by 23.3% during the 1st quarter. Amundi now owns 11,980,192 shares of the restaurant operator’s stock valued at $383,486,000 after purchasing an additional 2,266,087 shares during the period. Bank of America Corp DE lifted its position in shares of Chipotle Mexican Grill by 86.1% in the 1st quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator’s stock worth $383,280,000 after acquiring an additional 5,541,385 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Chipotle Mexican Grill by 30.6% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator’s stock worth $368,751,000 after buying an additional 2,541,795 shares during the period. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Performance

Shares of NYSE:CMG traded up $2.60 during trading on Thursday, reaching $31.33. 42,432,740 shares of the stock traded hands, compared to its average volume of 18,084,094. Chipotle Mexican Grill, Inc. has a 52-week low of $27.31 and a 52-week high of $41.42. The stock has a 50-day moving average of $33.20 and a two-hundred day moving average of $34.21. The stock has a market cap of $39.65 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 1.67 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.29 by ($0.02). Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.29 billion. During the same quarter in the previous year, the business posted $0.29 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Matthew R. Bush sold 2,675 shares of Chipotle Mexican Grill stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $35.75, for a total transaction of $95,631.25. Following the completion of the sale, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.45% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on CMG. Robert W. Baird decreased their price objective on Chipotle Mexican Grill from $40.00 to $35.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Evercore reiterated an “outperform” rating and issued a $47.00 price target (up from $45.00) on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Gordon Haskett decreased their price target on Chipotle Mexican Grill from $42.00 to $36.00 and set a “hold” rating for the company in a report on Monday, October 19th. TD Cowen restated a “hold” rating and issued a $32.00 target price on shares of Chipotle Mexican Grill in a research note on Thursday. Finally, Stephens reiterated an “equal weight” rating and set a $38.00 price objective on shares of Chipotle Mexican Grill in a report on Thursday. Twenty-seven equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of “Moderate Buy” and an average target price of $42.47.

Trending Headlines about Chipotle Mexican Grill

Here are the key news stories impacting Chipotle Mexican Grill this week:

• Positive Sentiment: Third-quarter revenue rose 9.6% to $3.29 billion, in line with expectations, while comparable-restaurant sales increased 2.1% and transactions grew for the third consecutive quarter. Value offers and limited-time menu items helped attract diners. Chipotle beats quarterly sales expectations on resilient demand
• Positive Sentiment: Investors responded favorably to signs of a traffic recovery following earlier food-safety concerns. New menu launches, refreshed loyalty benefits and plans to accelerate technology and menu innovation are supporting the turnaround. Chipotle Sales Beat as New Chicken, Chips Bring Diners Back
• Positive Sentiment: Chipotle opened 84 company-owned restaurants during the quarter, and its loyalty program surpassed 24 million members, providing additional long-term growth and customer-engagement potential. Chipotle: 3 Key Takeaways for Long-Term Investors
• Positive Sentiment: Several analysts maintained bullish ratings, including DA Davidson and BTIG Research at $45 targets and Oppenheimer at a $51 target, implying substantial upside based on the supplied reference price. Oppenheimer analyst rating
• Neutral Sentiment: Analyst opinion remains mixed: Citigroup kept a Buy rating while cutting its target to $41, whereas BNP Paribas Exane retained Neutral and reduced its target to $36. Bernstein also lowered its target to $43 from $50. Citigroup price target
• Negative Sentiment: Adjusted earnings were $0.27 per share, below the $0.29 consensus and last year’s $0.29, as higher operating costs, beef prices and increased protein usage pressured margins. Chipotle Q3 earnings miss estimates
• Negative Sentiment: Management’s outlook calls for only modestly higher sales, leaving investors dependent on the fourth-quarter brisket launch, continued traffic gains and successful cost management to sustain the recovery. The rest of Chipotle’s year hinges on brisket

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill, Inc (NYSE: CMG) operates a chain of fast-casual restaurants focused on Mexican-inspired food. Its menu includes burritos, burrito bowls, tacos, quesadillas and salads, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company emphasizes preparing food in its restaurants from ingredients it describes as responsibly sourced, including meats raised with attention to animal welfare and produce from selected suppliers.

Founded by Steve Ells in 1993, Chipotle opened its first restaurant in Denver, Colorado.