Chipotle Mexican Grill, Inc. $CMG Stock: State of Alaska Department of Revenue Grows Stake

Key Points

• State of Alaska Department of Revenue increased its Chipotle stake by 181.8% in the third quarter, bringing its holdings to 422,295 shares valued at approximately $13.5 million. Institutional investors collectively own 91.3% of the company.
• Chipotle reported quarterly revenue of $3.35 billion, up 9.3% year over year, and earnings per share of $0.33, slightly exceeding analyst expectations.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus rating and an average price target of $43.87, compared with the stock’s reported trading price of $30.63.

State of Alaska Department of Revenue raised its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 181.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 422,295 shares of the restaurant operator's stock after buying an additional 272,454 shares during the quarter. 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.

Several other large investors have also recently added to or reduced their stakes in the company. MV Capital Management Inc. acquired a new stake in shares of Chipotle Mexican Grill during the fourth quarter worth $26,000. Osbon Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the fourth quarter valued at about $28,000. Meeder Asset Management Inc. acquired a new position in shares of Chipotle Mexican Grill in the second quarter valued at about $27,000. Kelleher Financial Advisors acquired a new position in shares of Chipotle Mexican Grill in the second quarter valued at about $28,000. Finally, Merkkuri Wealth Advisors LLC acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $28,000. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Price Performance

CMG traded up $0.11 during trading on Thursday, hitting $30.63. 5,802,718 shares of the stock traded hands, compared to its average volume of 17,680,521. The business has a 50 day moving average price of $34.09 and a 200 day moving average price of $33.49. Chipotle Mexican Grill, Inc. has a twelve month low of $28.03 and a twelve month high of $42.74. The company has a market cap of $38.76 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.86 and a beta of 0.96.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The firm had revenue of $3.35 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $0.33 EPS. The company's revenue was up 9.3% compared to the same quarter last year. On average, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current year.

Analysts Set New Price Targets

CMG has been the topic of several recent research reports. Mizuho reaffirmed an "outperform" rating and set a $43.00 target price on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. Bank of America reiterated a "buy" rating and issued a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a research report on Tuesday, September 1st. Evercore reiterated an "outperform" rating and issued a $47.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, July 30th. Robert W. Baird reissued a "neutral" rating and set a $40.00 price target (down from $44.00) on shares of Chipotle Mexican Grill in a research report on Monday, August 24th. Finally, Seaport Research Partners began coverage on Chipotle Mexican Grill in a report on Wednesday, September 16th. They issued a "neutral" rating for the company. Twenty-two equities research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $43.87.

Insider Activity at Chipotle Mexican Grill

In related news, insider Matthew R. Bush sold 2,675 shares of the company's stock in a transaction on Friday, August 21st. The stock was 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 represents a 11.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.45% of the company's stock.

Chipotle Mexican Grill Company 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.

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