State of Michigan Retirement System Decreases Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

State of Michigan Retirement System cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 4.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 984,700 shares of the restaurant operator’s stock after selling 43,300 shares during the quarter. State of Michigan Retirement System’s holdings in Chipotle Mexican Grill were worth $59,377,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in CMG. US Bancorp DE raised its stake in Chipotle Mexican Grill by 12.9% in the third quarter. US Bancorp DE now owns 115,987 shares of the restaurant operator’s stock valued at $6,683,000 after buying an additional 13,237 shares during the last quarter. Stephens Inc. AR purchased a new stake in Chipotle Mexican Grill in the third quarter valued at about $341,000. Focus Financial Network Inc. raised its stake in Chipotle Mexican Grill by 9.3% in the third quarter. Focus Financial Network Inc. now owns 5,405 shares of the restaurant operator’s stock valued at $311,000 after buying an additional 462 shares during the last quarter. Farther Finance Advisors LLC raised its stake in Chipotle Mexican Grill by 4.2% in the third quarter. Farther Finance Advisors LLC now owns 13,561 shares of the restaurant operator’s stock valued at $781,000 after buying an additional 545 shares during the last quarter. Finally, Chicago Partners Investment Group LLC raised its stake in Chipotle Mexican Grill by 6.8% in the third quarter. Chicago Partners Investment Group LLC now owns 12,218 shares of the restaurant operator’s stock valued at $721,000 after buying an additional 775 shares during the last quarter. 91.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Laurie Schalow sold 4,404 shares of Chipotle Mexican Grill stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $65.01, for a total value of $286,304.04. Following the sale, the insider now owns 185,792 shares in the company, valued at $12,078,337.92. The trade was a 2.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.02% of the company’s stock.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $54.34 on Tuesday. The stock’s fifty day moving average is $57.23 and its two-hundred day moving average is $58.13. The firm has a market capitalization of $73.65 billion, a P/E ratio of 48.95, a price-to-earnings-growth ratio of 2.04 and a beta of 1.27. Chipotle Mexican Grill, Inc. has a fifty-two week low of $47.98 and a fifty-two week high of $69.26.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a return on equity of 42.92% and a net margin of 13.56%. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on CMG shares. KeyCorp reduced their price objective on Chipotle Mexican Grill from $66.00 to $64.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Piper Sandler reduced their price objective on Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. Wedbush reduced their price objective on Chipotle Mexican Grill from $69.00 to $64.00 and set an “outperform” rating for the company in a research note on Wednesday, February 5th. Royal Bank of Canada restated an “outperform” rating and issued a $75.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, January 28th. Finally, Stephens reduced their price objective on Chipotle Mexican Grill from $61.00 to $60.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 5th. Nine investment analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.60.

About Chipotle Mexican Grill

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.