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

Louisiana State Employees Retirement System acquired a new stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) in the 1st quarter, HoldingsChannel reports. The fund acquired 66,400 shares of the restaurant operator’s stock, valued at approximately $2,125,000.

Several other hedge funds and other institutional investors have also made changes to their positions in CMG. Ritholtz Wealth Management raised its position in Chipotle Mexican Grill by 8.8% during the first quarter. Ritholtz Wealth Management now owns 8,863 shares of the restaurant operator’s stock worth $284,000 after acquiring an additional 715 shares in the last quarter. OP Asset Management Ltd acquired a new stake in Chipotle Mexican Grill in the first quarter valued at $4,349,000. Cache Advisors LLC bought a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at about $146,000. Western Pacific Wealth Management LP increased its stake in shares of Chipotle Mexican Grill by 26.3% during the 1st quarter. Western Pacific Wealth Management LP now owns 2,023 shares of the restaurant operator’s stock worth $65,000 after purchasing an additional 421 shares during the last quarter. Finally, AdvisorNet Financial Inc increased its stake in shares of Chipotle Mexican Grill by 15.5% during the 1st quarter. AdvisorNet Financial Inc now owns 7,883 shares of the restaurant operator’s stock worth $252,000 after purchasing an additional 1,060 shares during the last quarter. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of NYSE CMG opened at $34.00 on Wednesday. The firm has a market cap of $43.61 billion, a price-to-earnings ratio of 31.19, a P/E/G ratio of 2.12 and a beta of 0.99. The stock’s fifty day moving average price is $32.30 and its two-hundred day moving average price is $35.08. Chipotle Mexican Grill, Inc. has a one year low of $28.03 and a one year high of $58.42.

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

Wall Street Analysts Forecast Growth

CMG has been the subject of several recent analyst reports. Barclays cut their target price on shares of Chipotle Mexican Grill from $40.00 to $38.00 and set an “equal weight” rating for the company in a research note on Thursday, April 30th. Stephens raised their price objective on Chipotle Mexican Grill from $38.00 to $39.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. TD Cowen reissued a “buy” rating and set a $44.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, April 30th. Morgan Stanley set a $37.00 price target on Chipotle Mexican Grill and gave the company an “equal weight” rating in a report on Wednesday, June 3rd. Finally, Piper Sandler dropped their price objective on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an “overweight” rating on the stock in a research report on Thursday, April 30th. Twenty-three analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $45.10.

Chipotle Mexican Grill 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.