Corebridge Financial Inc. Lowers Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Corebridge Financial Inc. reduced its holdings in Chipotle Mexican Grill by 4.7%, selling 18,770 shares during the first quarter, now owning 377,009 shares valued at approximately $18.93 million.
• Other institutional investors made notable changes, with Charles Schwab Investment Management increasing its stake by 5.8%, now owning almost 8.98 million shares valued at about $450.87 million.
• Chipotle's latest earnings report showed a quarterly revenue increase of 3.0% year-over-year, posting $3.06 billion, while earnings slightly surpassed expectations with an EPS of $0.33.

Corebridge Financial Inc. lessened its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 4.7% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 377,009 shares of the restaurant operator's stock after selling 18,770 shares during the quarter. Corebridge Financial Inc.'s holdings in Chipotle Mexican Grill were worth $18,930,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Chipotle Mexican Grill by 5.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock valued at $450,868,000 after purchasing an additional 491,002 shares during the period. Corient IA LLC purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $753,000. Banco Santander S.A. lifted its stake in shares of Chipotle Mexican Grill by 47.6% in the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock valued at $1,595,000 after purchasing an additional 10,246 shares during the period. Community Trust & Investment Co. purchased a new position in shares of Chipotle Mexican Grill in the 1st quarter valued at approximately $7,773,000. Finally, LPL Financial LLC lifted its stake in shares of Chipotle Mexican Grill by 4.3% in the 1st quarter. LPL Financial LLC now owns 1,276,359 shares of the restaurant operator's stock valued at $64,086,000 after purchasing an additional 52,937 shares during the period. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Trading Down 2.0%

Chipotle Mexican Grill stock opened at $42.75 on Tuesday. The firm has a market cap of $57.32 billion, a price-to-earnings ratio of 38.17, a PEG ratio of 2.22 and a beta of 1.05. The stock has a fifty day simple moving average of $49.40 and a two-hundred day simple moving average of $50.43. Chipotle Mexican Grill, Inc. has a 12 month low of $41.18 and a 12 month high of $66.74.

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

Insider Activity at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of Chipotle Mexican Grill stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the sale, the insider owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.81% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Melius assumed coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They set a "hold" rating and a $60.00 price objective for the company. TD Cowen lowered their price objective on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a research note on Wednesday, July 23rd. UBS Group lifted their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Barclays lowered their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. Finally, TD Securities reiterated a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average 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.

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