Maryland State Retirement & Pension System Sells 9,339 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• The Maryland State Retirement & Pension System reduced its stake in Chipotle Mexican Grill by 12.8%, selling 9,339 shares in the 1st quarter, bringing its holdings to 63,872 shares valued at approximately $3.2 million.
• Chipotle's latest quarterly earnings showed a slight increase in revenue to $3.06 billion, with earnings per share (EPS) of $0.33, surpassing the expected $0.32.
• Analysts have a consensus rating of "Moderate Buy" for Chipotle, with a target price of $60.71, reflecting a mix of ratings from various research firms.

Maryland State Retirement & Pension System cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 12.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,872 shares of the restaurant operator's stock after selling 9,339 shares during the quarter. Maryland State Retirement & Pension System's holdings in Chipotle Mexican Grill were worth $3,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter valued at approximately $25,000. HighMark Wealth Management LLC boosted its position in Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after purchasing an additional 371 shares during the last quarter. North Capital Inc. bought a new position in Chipotle Mexican Grill in the 1st quarter valued at $30,000. ORG Wealth Partners LLC bought a new position in Chipotle Mexican Grill in the 1st quarter valued at $31,000. Finally, Mechanics Financial Corp purchased a new stake in shares of Chipotle Mexican Grill during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Stock Performance

NYSE CMG opened at $42.69 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $42.25 and a 52-week high of $66.74. The company has a fifty day moving average of $51.39 and a 200-day moving average of $51.75. The company has a market capitalization of $57.25 billion, a P/E ratio of 38.12, a P/E/G ratio of 2.17 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.01. The firm had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%. The company's revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. As a group, analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the transaction, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.81% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on CMG. Argus lowered shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Robert W. Baird reduced their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Piper Sandler lifted their price target on shares of Chipotle Mexican Grill from $52.00 to $53.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Wells Fargo & Company reduced their price objective on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Finally, Barclays lowered their target price on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. Nine analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $60.71.

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.

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