Chipotle Mexican Grill, Inc. $CMG Stock Position Lessened by Ilmarinen Mutual Pension Insurance Co

Key Points

• Ilmarinen Mutual Pension Insurance Co reduced its holdings in Chipotle Mexican Grill by 18.9% during the first quarter, selling 50,000 shares and bringing its total to 215,000 shares worth approximately $10.8 million.
• Chipotle reported earnings per share of $0.33 for the last quarter, slightly exceeding the consensus estimate, although its revenue of $3.06 billion fell short of analyst expectations.
• Several analysts have revised their target prices for Chipotle, with the average target now at $59.76 and consensus ratings leaning towards a "Moderate Buy."

Ilmarinen Mutual Pension Insurance Co decreased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 215,000 shares of the restaurant operator's stock after selling 50,000 shares during the quarter. Ilmarinen Mutual Pension Insurance Co's holdings in Chipotle Mexican Grill were worth $10,795,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its stake in shares of Chipotle Mexican Grill by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after purchasing an additional 491,002 shares in the last quarter. Corient IA LLC bought a new position in shares of Chipotle Mexican Grill in the first quarter worth $753,000. Advisors Asset Management Inc. lifted its holdings in shares of Chipotle Mexican Grill by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock valued at $3,784,000 after buying an additional 18,458 shares during the period. Banco Santander S.A. lifted its holdings in shares of Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after buying an additional 10,246 shares during the period. Finally, Community Trust & Investment Co. acquired a new stake in shares of Chipotle Mexican Grill in the first quarter valued at $7,773,000. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $39.47 on Wednesday. Chipotle Mexican Grill, Inc. has a fifty-two week low of $39.23 and a fifty-two week high of $66.74. The stock's 50-day moving average is $46.64 and its two-hundred day moving average is $49.39. The firm has a market cap of $52.92 billion, a P/E ratio of 35.24, a PEG ratio of 2.02 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm posted $0.34 EPS. The business's revenue was up 3.0% compared to the same quarter last year. As a group, research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on CMG shares. TD Cowen cut their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. JPMorgan Chase & Co. reduced their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Citigroup reduced their target price 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. UBS Group upped their target price on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Stephens reaffirmed an "equal weight" rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $59.76.

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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