Northwestern Mutual Wealth Management Co. Sells 214,372 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Northwestern Mutual Wealth Management Co. sold 214,372 shares of Chipotle Mexican Grill, reducing its holdings by 23.1% during the first quarter, leaving it with approximately 714,670 shares valued at $35.88 million.
• Institutional investors collectively own 91.30% of Chipotle's stock, with notable increases in positions by firms like AlphaQuest LLC and Kestra Advisory Services LLC during the same period.
• Chipotle reported earnings of $0.33 per share for the latest quarter, surpassing analysts' estimates, but fall short on revenue expectations with $3.06 billion reported compared to $3.11 billion forecasted.

Northwestern Mutual Wealth Management Co. trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 23.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 714,670 shares of the restaurant operator's stock after selling 214,372 shares during the quarter. Northwestern Mutual Wealth Management Co. owned about 0.05% of Chipotle Mexican Grill worth $35,884,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. AlphaQuest LLC increased its position in Chipotle Mexican Grill by 108.0% during the first quarter. AlphaQuest LLC now owns 18,937 shares of the restaurant operator's stock worth $951,000 after acquiring an additional 9,834 shares during the period. Kestra Advisory Services LLC increased its position in Chipotle Mexican Grill by 29.3% during the first quarter. Kestra Advisory Services LLC now owns 172,200 shares of the restaurant operator's stock worth $8,646,000 after acquiring an additional 39,019 shares during the period. Laffer Tengler Investments Inc. increased its position in Chipotle Mexican Grill by 17.2% during the first quarter. Laffer Tengler Investments Inc. now owns 114,097 shares of the restaurant operator's stock worth $5,729,000 after acquiring an additional 16,708 shares during the period. Circle Wealth Management LLC increased its position in Chipotle Mexican Grill by 3.3% during the first quarter. Circle Wealth Management LLC now owns 16,225 shares of the restaurant operator's stock worth $815,000 after acquiring an additional 517 shares during the period. Finally, D.B. Root & Company LLC bought a new position in Chipotle Mexican Grill during the first quarter worth about $441,000. 91.30% of the stock is owned by institutional investors.

Chipotle Mexican Grill Trading Up 1.6%

CMG opened at $43.58 on Monday. The company's 50 day moving average is $49.60 and its 200-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. The company has a market cap of $58.44 billion, a P/E ratio of 38.91, a PEG ratio of 2.22 and a beta of 1.05.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly 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. Chipotle Mexican Grill had a net margin of 13.32% and a return on equity of 43.50%. The company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period last year, the company posted $0.34 EPS. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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 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 directly 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.02% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Melius assumed coverage on shares of Chipotle Mexican Grill in a research report on Monday, July 14th. They set a "hold" rating and a $60.00 price target on the stock. BMO Capital Markets raised shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and raised their target price for the company from $56.00 to $65.00 in a report on Friday, July 18th. Truist Financial decreased their target price on shares of Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating on the stock in a report on Friday, July 25th. Stephens reissued an "equal weight" rating and issued a $60.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, July 24th. Finally, TD Cowen decreased their target price 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. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $60.22.

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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