Chipotle Mexican Grill, Inc. $CMG Stock: State of Alaska Department of Revenue Boosts Holdings

State of Alaska Department of Revenue lifted its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 181.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 422,295 shares of the restaurant operator’s stock after acquiring 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 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. MV Capital Management Inc. acquired a new position in shares of Chipotle Mexican Grill in the fourth quarter valued at approximately $26,000. Osbon Capital Management LLC bought a new position in shares of Chipotle Mexican Grill during the fourth quarter worth about $28,000. Meeder Asset Management Inc. acquired a new position in shares of Chipotle Mexican Grill in the second quarter worth approximately $27,000. Kelleher Financial Advisors acquired a new position in shares of Chipotle Mexican Grill in the second quarter worth approximately $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the first quarter worth approximately $28,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Trading Up 0.4%

CMG stock traded up $0.11 during trading on Thursday, reaching $30.63. 5,802,718 shares of the stock were exchanged, compared to its average volume of 17,680,521. The firm’s 50 day moving average is $34.09 and its 200 day moving average is $33.49. The firm has a market cap of $38.76 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 1.86 and a beta of 0.96. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.74.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data on Wednesday, July 29th. The restaurant operator reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.01. The firm had revenue of $3.35 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The company’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.33 earnings per share. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Buying and Selling at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $35.75, for a total value of $95,631.25. Following the transaction, the insider directly owned 21,415 shares in the company, valued at $765,586.25. This trade represents a 11.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.45% of the stock is owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CMG. Guggenheim restated a “neutral” rating and issued a $36.00 price target (up from $35.00) on shares of Chipotle Mexican Grill in a research report on Friday, July 31st. Argus upped their price objective on shares of Chipotle Mexican Grill from $40.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, August 4th. Evercore reiterated an “outperform” rating and set a $47.00 price objective on shares of Chipotle Mexican Grill in a research report on Thursday, July 30th. Raymond James Financial reissued an “outperform” rating and set a $42.50 target price on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Finally, JPMorgan Chase & Co. dropped their price objective on Chipotle Mexican Grill from $40.00 to $37.00 and set an “overweight” rating on the stock in a research note on Tuesday, September 29th. Twenty-two equities research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Chipotle Mexican Grill has an average rating of “Moderate Buy” and a consensus target price of $43.87.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.