State of Michigan Retirement System Has $21.47 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

State of Michigan Retirement System decreased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 56.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 427,600 shares of the restaurant operator's stock after selling 557,100 shares during the quarter. State of Michigan Retirement System's holdings in Chipotle Mexican Grill were worth $21,470,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the business. Cerity Partners LLC raised its holdings in Chipotle Mexican Grill by 8.9% during the first quarter. Cerity Partners LLC now owns 650,774 shares of the restaurant operator's stock worth $32,675,000 after purchasing an additional 53,120 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new stake in Chipotle Mexican Grill during the first quarter worth approximately $2,231,000. Alps Advisors Inc. increased its holdings in shares of Chipotle Mexican Grill by 16.8% in the first quarter. Alps Advisors Inc. now owns 7,233 shares of the restaurant operator's stock valued at $363,000 after buying an additional 1,039 shares in the last quarter. LBP AM SA increased its holdings in shares of Chipotle Mexican Grill by 7.8% in the first quarter. LBP AM SA now owns 17,255 shares of the restaurant operator's stock valued at $866,000 after buying an additional 1,251 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in shares of Chipotle Mexican Grill by 197.4% in the first quarter. Cornerstone Planning Group LLC now owns 1,909 shares of the restaurant operator's stock valued at $93,000 after buying an additional 1,267 shares in the last quarter. Institutional investors and hedge funds own 91.31% of the company's stock.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.02% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Barclays upped their price target on Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target on the stock. UBS Group dropped their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set a "buy" rating on the stock in a report on Thursday, April 24th. Evercore ISI dropped their price target on Chipotle Mexican Grill from $64.00 to $57.00 and set an "outperform" rating on the stock in a report on Thursday, April 24th. Finally, Piper Sandler cut their target price on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Ten investment analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $61.21.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock traded down $1.43 during trading hours on Monday, hitting $54.57. 7,209,547 shares of the stock were exchanged, compared to its average volume of 12,655,269. Chipotle Mexican Grill, Inc. has a 12 month low of $44.46 and a 12 month high of $66.74. The business's 50-day moving average is $52.58 and its two-hundred day moving average is $53.06. The stock has a market capitalization of $73.52 billion, a P/E ratio of 48.28, a P/E/G ratio of 2.78 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The firm had revenue of $2.88 billion for the quarter, compared to analysts' expectations of $2.98 billion. During the same period last year, the firm earned $13.37 earnings per share. The business's revenue for the quarter was up 6.4% on a year-over-year basis. On average, equities analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company 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.