State of New Jersey Common Pension Fund D Sells 46,238 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Key Points

• The State of New Jersey Common Pension Fund D sold 46,238 shares of Chipotle Mexican Grill, reducing its position by 9.1%, now holding a total of 461,128 shares valued at approximately $23.15 million.
• Insider Roger E. Theodoredis sold 113,875 shares of Chipotle at a price of $49.70, representing a decrease of 50.91% in their position.
• Chipotle's stock price has seen fluctuations, with a twelve-month high of $66.74 and a low of $41.18, while the company recently reported earnings of $0.33 per share for the last quarter, exceeding analyst expectations.

State of New Jersey Common Pension Fund D reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 9.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 461,128 shares of the restaurant operator's stock after selling 46,238 shares during the quarter. State of New Jersey Common Pension Fund D's holdings in Chipotle Mexican Grill were worth $23,153,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CMG. Cloud Capital Management LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter worth about $25,000. HighMark Wealth Management LLC raised its holdings in Chipotle Mexican Grill by 173.4% during the 1st 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 stake in Chipotle Mexican Grill during the 1st quarter worth about $30,000. ORG Wealth Partners LLC bought a new stake in Chipotle Mexican Grill during the 1st quarter worth about $31,000. Finally, Mechanics Financial Corp bought a new stake in Chipotle Mexican Grill during the 1st quarter worth about $38,000. 91.31% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total transaction of $5,659,587.50. Following the completion of the transaction, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.81% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Stock Up 2.0%

NYSE:CMG opened at $44.04 on Friday. Chipotle Mexican Grill, Inc. has a twelve month low of $41.18 and a twelve month high of $66.74. The business has a 50 day moving average price of $50.37 and a two-hundred day moving average price of $51.15. The company has a market cap of $59.05 billion, a P/E ratio of 39.32, a price-to-earnings-growth ratio of 2.19 and a beta of 1.05.

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

Wall Street Analysts Forecast Growth

Several analysts have weighed in on CMG shares. Argus cut Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Citigroup dropped their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, July 24th. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. TD Securities reaffirmed a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Finally, KeyCorp lowered their price target on Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a research note on Thursday, July 24th. Eight analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

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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