MetLife Investment Management LLC Decreases Stake in Chipotle Mexican Grill, Inc. $CMG

Key Points

• MetLife Investment Management LLC decreased its stake in Chipotle Mexican Grill by 2.2%, selling 9,247 shares, with the total remaining holdings valued at $20.67 million.
• Chipotle reported $0.33 earnings per share for the latest quarter, exceeding the consensus estimate by $0.01, but fell short on revenue expectations with $3.06 billion compared to a projected $3.11 billion.
• Analysts have mixed views, with JPMorgan cutting the price target from $58 to $54 and the consensus target price currently set at $60.22.

MetLife Investment Management LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.2% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 411,691 shares of the restaurant operator's stock after selling 9,247 shares during the period. MetLife Investment Management LLC's holdings in Chipotle Mexican Grill were worth $20,671,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cloud Capital Management LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. HighMark Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after buying an additional 371 shares during the period. North Capital Inc. bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $30,000. ORG Wealth Partners LLC bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $31,000. Finally, Mechanics Financial Corp bought a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $38,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $43.58 on Monday. The firm's fifty day moving average price is $49.60 and its 200-day moving average price is $50.53. The stock has a market cap of $58.44 billion, a P/E ratio of 38.91, a price-to-earnings-growth ratio of 2.22 and a beta of 1.05. Chipotle Mexican Grill, Inc. has a fifty-two week low of $41.18 and a fifty-two week high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate 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 business's quarterly revenue was up 3.0% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Analysts Set New Price Targets

CMG has been the subject of several analyst reports. JPMorgan Chase & Co. cut their price objective on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Thursday, May 29th. Argus downgraded shares of Chipotle Mexican Grill from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a report on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Piper Sandler raised shares of Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and cut their price target for the company from $53.00 to $50.00 in a report on Tuesday, August 12th. Finally, KeyCorp cut their price target on shares of Chipotle Mexican Grill from $60.00 to $58.00 and set an "overweight" rating for the company in a report on Thursday, July 24th. One investment 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, Chipotle Mexican Grill presently has a consensus rating of "Moderate Buy" and a consensus target price of $60.22.

Insider Buying and Selling at Chipotle Mexican Grill

In other news, insider Roger E. Theodoredis sold 113,875 shares of the firm's stock in a transaction on 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 owned 109,815 shares in the company, valued at approximately $5,457,805.50. This trade represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 1.02% of the company's stock.

Chipotle Mexican Grill 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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