Louisiana State Employees Retirement System Makes New $2.12 Million Investment in Chipotle Mexican Grill, Inc. $CMG

Louisiana State Employees Retirement System bought a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 66,400 shares of the restaurant operator’s stock, valued at approximately $2,125,000.

Several other institutional investors have also recently bought and sold shares of CMG. Bank of Nova Scotia lifted its holdings in Chipotle Mexican Grill by 11.0% in the third quarter. Bank of Nova Scotia now owns 475,672 shares of the restaurant operator’s stock valued at $18,642,000 after buying an additional 47,241 shares during the period. Klein Pavlis & Peasley Financial Inc. acquired a new stake in Chipotle Mexican Grill during the 4th quarter worth $1,597,000. Norges Bank bought a new stake in shares of Chipotle Mexican Grill in the 4th quarter valued at $711,837,000. Crescent Park Management L.P. bought a new stake in shares of Chipotle Mexican Grill in the third quarter worth about $5,911,000. Finally, Focus Partners Advisor Solutions LLC increased its stake in Chipotle Mexican Grill by 156.9% during the 4th quarter. Focus Partners Advisor Solutions LLC now owns 58,269 shares of the restaurant operator’s stock worth $2,156,000 after purchasing an additional 35,589 shares in the last quarter. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Stock Up 3.1%

NYSE CMG opened at $34.00 on Wednesday. The firm’s 50 day moving average is $32.30 and its 200-day moving average is $35.08. The company has a market capitalization of $43.61 billion, a PE ratio of 31.19, a price-to-earnings-growth ratio of 2.12 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 12-month low of $28.03 and a 12-month high of $58.42.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.07 billion. During the same quarter in the prior year, the company posted $0.29 earnings per share. The firm’s revenue was up 7.4% on a year-over-year basis. As a group, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.13 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CMG shares. Piper Sandler reduced their price target on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Thursday, April 30th. BNP Paribas Exane boosted their price objective on shares of Chipotle Mexican Grill from $37.00 to $39.00 and gave the company a “neutral” rating in a research report on Thursday, April 30th. Mizuho raised shares of Chipotle Mexican Grill from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $37.00 to $40.00 in a research note on Friday, March 20th. BTIG Research reiterated a “buy” rating and set a $45.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Finally, Weiss Ratings upgraded Chipotle Mexican Grill from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 25th. Twenty-three research analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $45.10.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.