Allstate Corp Trims Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Allstate Corp has reduced its stake in Chipotle Mexican Grill, Inc. by 55.5%, now owning 17,883 shares worth approximately $898,000.
• During the 1st quarter, various institutional investors modified their positions, with hedge funds and other institutions owning 91.30% of Chipotle's stock.
• Chipotle reported a quarterly EPS of $0.33, exceeding analysts' expectations, with revenue of $3.06 billion, a 3% increase from the previous year.

Allstate Corp lessened its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 55.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 17,883 shares of the restaurant operator's stock after selling 22,347 shares during the period. Allstate Corp's holdings in Chipotle Mexican Grill were worth $898,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $25,000. HighMark Wealth Management LLC raised its holdings in shares of 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 acquiring an additional 371 shares during the period. North Capital Inc. purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $30,000. ORG Wealth Partners LLC purchased a new position in shares of Chipotle Mexican Grill during the 1st quarter worth $31,000. Finally, Mascagni Wealth Management Inc. purchased a new position in shares of Chipotle Mexican Grill during the 4th quarter worth $45,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $43.58 on Monday. The firm has a market capitalization of $58.44 billion, a PE ratio of 38.91, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. The firm's 50-day moving average is $49.60 and its two-hundred day moving average is $50.53. Chipotle Mexican Grill, Inc. has a 1 year low of $41.18 and a 1 year high of $66.74.

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

Analyst Ratings Changes

CMG has been the topic of several analyst reports. TD Securities reiterated a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Guggenheim reduced their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating on the stock in a report on Friday, July 25th. JPMorgan Chase & Co. decreased their target price on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Thursday, May 29th. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and upped their target price for the company from $56.00 to $65.00 in a research report on Friday, July 18th. Finally, Barclays decreased their target price on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.22.

Insider Transactions at Chipotle Mexican Grill

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

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.

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