Chipotle Mexican Grill, Inc. $CMG Shares Bought by California Public Employees Retirement System

Key Points

• California Public Employees Retirement System raised its stake in Chipotle by 5.3% in Q3, buying 119,125 shares to hold 2,357,328 shares (about 0.18%) valued at roughly $92.38 million.
• Chipotle beat estimates in its most recent quarter with $0.25 EPS (vs. $0.24 expected) and $2.98 billion in revenue (vs. $2.96 billion), reporting a 12.88% net margin and revenue up 4.9% year-over-year.
• The stock trades near $34.03 with a market cap of $44.32 billion and a 1‑year range of $29.75–$58.42; analysts hold a consensus "Moderate Buy" rating with an average price target of $47.37 (23 Buys, 11 Holds, 1 Sell).

California Public Employees Retirement System raised its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 5.3% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,357,328 shares of the restaurant operator's stock after buying an additional 119,125 shares during the quarter. California Public Employees Retirement System owned about 0.18% of Chipotle Mexican Grill worth $92,384,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Operose Advisors LLC purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth about $25,000. Lavaca Capital LLC acquired a new position in Chipotle Mexican Grill during the second quarter worth about $28,000. Twin Peaks Wealth Advisors LLC purchased a new stake in Chipotle Mexican Grill during the 2nd quarter valued at about $34,000. Evolution Wealth Management Inc. acquired a new stake in Chipotle Mexican Grill in the 2nd quarter valued at about $34,000. Finally, Salomon & Ludwin LLC acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at about $26,000. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $34.03 on Tuesday. The firm has a 50 day simple moving average of $37.94 and a 200-day simple moving average of $37.44. Chipotle Mexican Grill, Inc. has a 1-year low of $29.75 and a 1-year high of $58.42. The stock has a market cap of $44.32 billion, a price-to-earnings ratio of 29.85, a price-to-earnings-growth ratio of 2.00 and a beta of 1.00.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.24 by $0.01. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. During the same quarter last year, the firm earned $0.25 EPS. The business's revenue was up 4.9% compared to the same quarter last year. Equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on CMG shares. Deutsche Bank Aktiengesellschaft restated a "buy" rating and set a $48.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, February 4th. Truist Financial increased their price target on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, January 8th. Argus reiterated a "hold" rating on shares of Chipotle Mexican Grill in a research report on Thursday, February 5th. Zacks Research lowered Chipotle Mexican Grill from a "hold" rating to a "strong sell" rating in a research note on Friday, February 6th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Chipotle Mexican Grill in a report on Thursday, December 18th. Twenty-three research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $47.37.

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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