New York State Teachers Retirement System Trims Stock Holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Posted by on Apr 11th, 2023

New York State Teachers Retirement System lowered its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG – Get Rating) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,900 shares of the restaurant operator’s stock after selling 595 shares during the period. New York State Teachers Retirement System owned 0.12% of Chipotle Mexican Grill worth $45,648,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. FourThought Financial LLC grew its holdings in shares of Chipotle Mexican Grill by 350.0% during the third quarter. FourThought Financial LLC now owns 18 shares of the restaurant operator’s stock worth $27,000 after buying an additional 14 shares in the last quarter. Global Wealth Strategies & Associates purchased a new stake in Chipotle Mexican Grill in the 4th quarter worth approximately $36,000. Worth Asset Management LLC acquired a new position in Chipotle Mexican Grill in the 1st quarter valued at $44,000. Private Trust Co. NA purchased a new position in Chipotle Mexican Grill during the second quarter worth about $47,000. Finally, First PREMIER Bank grew its holdings in Chipotle Mexican Grill by 65.0% in the 3rd quarter. First PREMIER Bank now owns 33 shares of the restaurant operator’s stock valued at $50,000 after buying an additional 13 shares during the period. Hedge funds and other institutional investors own 93.26% of the company’s stock.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, CMO Christopher W. Brandt sold 584 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $1,595.00, for a total transaction of $931,480.00. Following the sale, the chief marketing officer now directly owns 7,782 shares of the company’s stock, valued at $12,412,290. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Brian R. Niccol sold 1,023 shares of the firm’s stock in a transaction that occurred on Monday, April 3rd. The stock was sold at an average price of $1,695.00, for a total value of $1,733,985.00. Following the sale, the chief executive officer now owns 23,347 shares of the company’s stock, valued at approximately $39,573,165. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Christopher W. Brandt sold 584 shares of the company’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $1,595.00, for a total value of $931,480.00. Following the transaction, the chief marketing officer now owns 7,782 shares of the company’s stock, valued at $12,412,290. The disclosure for this sale can be found here. Insiders sold a total of 10,427 shares of company stock valued at $17,051,886 over the last 90 days. 1.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on CMG shares. Credit Suisse Group raised their target price on shares of Chipotle Mexican Grill from $1,950.00 to $2,050.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 8th. BMO Capital Markets boosted their price target on Chipotle Mexican Grill from $1,600.00 to $1,800.00 and gave the company a “market perform” rating in a research report on Wednesday, February 8th. KeyCorp increased their price objective on shares of Chipotle Mexican Grill from $1,780.00 to $1,870.00 and gave the stock an “overweight” rating in a research report on Thursday, April 6th. Cowen lifted their target price on shares of Chipotle Mexican Grill from $1,950.00 to $2,050.00 and gave the company an “outperform” rating in a report on Wednesday, February 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $2,080.00 price target on shares of Chipotle Mexican Grill in a report on Friday, March 17th. Five analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,851.25.

Chipotle Mexican Grill Stock Performance

Shares of CMG stock opened at $1,691.56 on Tuesday. The stock has a market capitalization of $46.72 billion, a price-to-earnings ratio of 52.76, a PEG ratio of 1.55 and a beta of 1.32. Chipotle Mexican Grill, Inc. has a one year low of $1,196.28 and a one year high of $1,754.56. The company’s 50-day simple moving average is $1,612.01 and its 200-day simple moving average is $1,538.21.

Chipotle Mexican Grill (NYSE:CMG – Get Rating) last released its earnings results on Tuesday, February 7th. The restaurant operator reported $8.29 EPS for the quarter, missing analysts’ consensus estimates of $8.88 by ($0.59). Chipotle Mexican Grill had a return on equity of 40.96% and a net margin of 10.41%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.23 billion. During the same period in the prior year, the business earned $5.58 EPS. The company’s quarterly revenue was up 11.2% on a year-over-year basis. As a group, research analysts forecast that Chipotle Mexican Grill, Inc. will post 41.39 EPS for the current year.

Chipotle Mexican Grill Company Profile

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Chipotle Mexican Grill, Inc engages in the development and operation of classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. It offers a focused menu of burritos, tacos, burrito bowls, and salads prepared using classic cooking methods. The company was founded by Steve Ells in 1993 and is headquartered in Newport Beach, CA.

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Institutional Ownership by Quarter for Chipotle Mexican Grill (NYSE:CMG)

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