State of Alaska Department of Revenue Reduces Stake in Chipotle Mexican Grill, Inc. $CMG

Key Points

• The State of Alaska Department of Revenue has reduced its stake in Chipotle Mexican Grill by 4.0%, owning 171,525 shares valued at approximately $9.63 million after selling 7,125 shares.
• Chipotle's stock recently experienced a 1.9% increase, with shares opening at $40.06, reflecting a market capitalization of $53.72 billion.
• Analysts have varied outlooks on Chipotle, with the average target price set at $59.76 and recent upgrades from several firms, indicating a consensus rating of "Moderate Buy."

State of Alaska Department of Revenue decreased its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 171,525 shares of the restaurant operator's stock after selling 7,125 shares during the period. State of Alaska Department of Revenue's holdings in Chipotle Mexican Grill were worth $9,631,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of CMG. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter valued at about $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at $27,000. HighMark Wealth Management LLC raised 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 purchased a new position in shares of Chipotle Mexican Grill in the second quarter worth $29,000. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Up 1.9%

Shares of NYSE:CMG opened at $40.06 on Friday. The stock has a market cap of $53.72 billion, a P/E ratio of 35.77, a price-to-earnings-growth ratio of 2.04 and a beta of 1.02. The business's 50 day moving average is $42.47 and its 200 day moving average is $48.24. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, beating 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 business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.34 EPS. On average, sell-side analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. KeyCorp cut their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. Rothschild Redb raised Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, September 3rd. Redburn Atlantic began coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price objective for the company. Rothschild & Co Redburn upgraded Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 target price on the stock in a research report on Wednesday, September 3rd. Finally, Wells Fargo & Company decreased their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a research report on Thursday, July 24th. Two equities research 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. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $59.76.

Chipotle Mexican Grill Profile

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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