Comerica Bank Sells 71,379 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Comerica Bank reduced its holdings in Chipotle Mexican Grill, Inc. by 19.1%, now owning 302,176 shares valued at approximately $15.2 million.
• Chipotle's stock has seen a 2.0% decrease, opening at $42.75 with a market cap of $57.32 billion.
• Despite recent challenges, Chipotle reported an EPS of $0.33 for the last quarter, surpassing estimates, but revenue fell short of expectations at $3.06 billion.

Comerica Bank cut its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 19.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,176 shares of the restaurant operator's stock after selling 71,379 shares during the period. Comerica Bank's holdings in Chipotle Mexican Grill were worth $15,172,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in CMG. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $25,000. HighMark Wealth Management LLC increased its position in shares of Chipotle Mexican Grill by 173.4% during the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares in the last quarter. North Capital Inc. bought a new stake in shares of Chipotle Mexican Grill during the first quarter worth about $30,000. ORG Wealth Partners LLC purchased a new position in Chipotle Mexican Grill during the first quarter worth about $31,000. Finally, Mechanics Financial Corp purchased a new position in Chipotle Mexican Grill during the first quarter worth about $38,000. 91.30% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $49.70, for a total value of $5,659,587.50. Following the sale, the insider owned 109,815 shares of the company's stock, valued at $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.81% of the stock is currently owned by company insiders.

Chipotle Mexican Grill Stock Performance

CMG traded down $0.26 during midday trading on Friday, reaching $42.15. The company had a trading volume of 14,787,525 shares, compared to its average volume of 16,434,424. The stock has a market cap of $56.52 billion, a PE ratio of 37.64, a P/E/G ratio of 2.14 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a 12-month low of $41.18 and a 12-month high of $66.74. The business has a 50-day moving average price of $48.64 and a two-hundred day moving average price of $50.07.

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on CMG shares. KeyCorp cut their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Guggenheim cut their price target 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. Robert W. Baird cut their price target on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. TD Cowen cut their price target on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday, July 23rd. Finally, Melius started coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They set a "hold" rating and a $60.00 price target on the stock. One equities 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. Based on data from MarketBeat, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus price target of $60.22.

About Chipotle Mexican Grill

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.