California Public Employees Retirement System Has $56.63 Million Stake in Chipotle Mexican Grill, Inc. $CMG

Key Points

• CalPERS trimmed its Chipotle stake by 4.9% in the first quarter, though it still held 1.77 million shares worth about $56.6 million at the time of filing.
• Institutional ownership remains very high, with 91.3% of Chipotle shares held by institutions and hedge funds; several major firms, including Vanguard and Capital World Investors, increased their positions.
• Analysts remain constructive overall, with a consensus “Moderate Buy” rating and average price target of $43.86, even as some recent notes highlighted valuation and margin pressure concerns.

California Public Employees Retirement System reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,769,151 shares of the restaurant operator's stock after selling 90,481 shares during the quarter. California Public Employees Retirement System owned approximately 0.14% of Chipotle Mexican Grill worth $56,631,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of CMG. Vanguard Group Inc. boosted its position in Chipotle Mexican Grill by 14.8% during the fourth quarter. Vanguard Group Inc. now owns 144,588,220 shares of the restaurant operator's stock valued at $5,349,764,000 after acquiring an additional 18,660,882 shares during the last quarter. Capital World Investors increased its holdings in Chipotle Mexican Grill by 15.8% in the fourth quarter. Capital World Investors now owns 101,688,010 shares of the restaurant operator's stock worth $3,762,457,000 after purchasing an additional 13,843,222 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Chipotle Mexican Grill by 18.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 58,447,867 shares of the restaurant operator's stock worth $2,162,572,000 after purchasing an additional 9,237,720 shares in the last quarter. Capital International Investors lifted its stake in Chipotle Mexican Grill by 17.7% in the fourth quarter. Capital International Investors now owns 45,294,212 shares of the restaurant operator's stock valued at $1,675,895,000 after buying an additional 6,796,285 shares during the period. Finally, Norges Bank acquired a new position in Chipotle Mexican Grill in the fourth quarter valued at approximately $711,837,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently commented on CMG. BNP Paribas Exane raised their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock a "neutral" rating in a research report on Thursday, April 30th. Guggenheim decreased their price target on shares of Chipotle Mexican Grill from $36.00 to $35.00 and set a "neutral" rating for the company in a research note on Friday, May 1st. JPMorgan Chase & Co. upgraded Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and reduced their target price for the company from $38.00 to $35.00 in a research note on Friday, June 5th. Weiss Ratings raised Chipotle Mexican Grill from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, June 25th. Finally, BTIG Research reaffirmed a "buy" rating and set a $45.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, April 30th. Twenty-three investment analysts have rated the stock with a Buy rating and ten have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.86.

Key Chipotle Mexican Grill News

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

• Positive Sentiment: Chipotle and Wendy’s said their restaurants were not affected by the cyclosporiasis outbreak linked to lettuce at some Taco Bell locations, easing fears that the issue would spread to other fast-casual chains. Reuters article on cyclosporiasis outbreak
• Positive Sentiment: Chipotle opened its first restaurant in Mexico, a long-awaited international debut that could expand the brand’s growth runway and support sentiment around future store growth. Reuters article on Mexico debut
• Neutral Sentiment: Several analysts and market commentary pieces framed CMG as having improving traffic and rewards growth, but also noted that valuation and margin pressure remain key debates for the stock. Yahoo Finance comparison article
• Neutral Sentiment: Some commentary said Chipotle still looks fully priced after its recent decline, suggesting valuation may limit upside even after the recent rebound. Yahoo Finance valuation article
• Negative Sentiment: At least one market update said Chipotle underperformed peers on Thursday, reinforcing that the stock has been volatile and is still recovering from a sharp year-to-date slide. MarketWatch underperformance article

Chipotle Mexican Grill Stock Up 0.1%

Chipotle Mexican Grill stock opened at $34.47 on Monday. The firm has a 50 day moving average price of $32.60 and a 200-day moving average price of $34.89. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $54.29. The company has a market capitalization of $44.22 billion, a P/E ratio of 31.63, a P/E/G ratio of 2.23 and a beta of 0.97.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.07 billion. Chipotle Mexican Grill had a return on equity of 49.64% and a net margin of 11.96%.The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current fiscal year.

About Chipotle Mexican Grill

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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