Public Employees Retirement System of Ohio Sells 17,655 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• The Public Employees Retirement System of Ohio reduced its holdings in Chipotle Mexican Grill by 3.1%, selling 17,655 shares in the second quarter, leaving them with a total of 547,116 shares valued at approximately $30.72 million.
• Chipotle Mexican Grill recently reported earnings of $0.33 per share, beating analysts' expectations of $0.32, and had a net margin of 13.32% with total revenue of $3.06 billion.
• Wall Street analysts maintain a "Moderate Buy" consensus rating for Chipotle, with an average target price of $59.76, despite some analysts reducing their price projections.

Public Employees Retirement System of Ohio cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 3.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 547,116 shares of the restaurant operator's stock after selling 17,655 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Chipotle Mexican Grill were worth $30,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the first quarter worth about $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill in the first quarter worth about $27,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill in the first quarter worth about $27,000. HighMark Wealth Management LLC grew its stake in shares of 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. Finally, Oliver Lagore Vanvalin Investment Group bought a new stake in shares of Chipotle Mexican Grill in the second quarter worth about $29,000. 91.30% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on CMG shares. Redburn Atlantic started coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price on the stock. Citigroup lowered their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, July 24th. TD Cowen restated a "buy" rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 19th. TD Securities restated a "buy" rating and issued a $57.00 price objective on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Finally, Truist Financial lowered their price objective on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $59.76.

Chipotle Mexican Grill Stock Performance

CMG stock opened at $39.55 on Thursday. The firm has a 50 day moving average price of $43.03 and a 200-day moving average price of $48.39. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The firm has a market capitalization of $53.03 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.02 and a beta of 1.02.

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

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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