Allspring Global Investments Holdings LLC Sells 7,666 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Allspring Global Investments Holdings LLC trimmed its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 214,866 shares of the restaurant operator’s stock after selling 7,666 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Chipotle Mexican Grill were worth $11,102,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Alliancebernstein L.P. grew its stake in Chipotle Mexican Grill by 29.5% during the fourth quarter. Alliancebernstein L.P. now owns 30,100,520 shares of the restaurant operator’s stock valued at $1,815,061,000 after acquiring an additional 6,853,470 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Chipotle Mexican Grill by 1.4% in the 4th quarter. Geode Capital Management LLC now owns 28,476,031 shares of the restaurant operator’s stock worth $1,712,238,000 after buying an additional 395,053 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Chipotle Mexican Grill by 0.8% in the 4th quarter. American Century Companies Inc. now owns 20,236,980 shares of the restaurant operator’s stock worth $1,220,290,000 after buying an additional 166,767 shares in the last quarter. Norges Bank purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $1,093,345,000. Finally, Northern Trust Corp grew its stake in shares of Chipotle Mexican Grill by 11.1% in the 4th quarter. Northern Trust Corp now owns 14,443,085 shares of the restaurant operator’s stock worth $870,918,000 after buying an additional 1,438,860 shares in the last quarter. 91.31% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

CMG has been the subject of several analyst reports. TD Securities restated a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. JPMorgan Chase & Co. lowered their target price 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. Barclays lifted their price objective on shares of Chipotle Mexican Grill from $52.00 to $54.00 and gave the company an “equal weight” rating in a report on Thursday, June 26th. Citigroup reduced their price target on shares of Chipotle Mexican Grill from $70.00 to $62.00 and set a “buy” rating for the company in a report on Wednesday, April 2nd. Finally, Piper Sandler reduced their price target on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, April 24th. Ten analysts have rated the stock with a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $60.93.

Chipotle Mexican Grill Stock Performance

Shares of NYSE CMG opened at $57.16 on Friday. The company’s fifty day moving average price is $51.97 and its 200 day moving average price is $53.43. Chipotle Mexican Grill, Inc. has a 1 year low of $44.46 and a 1 year high of $66.74. The company has a market capitalization of $77.01 billion, a PE ratio of 50.58, a price-to-earnings-growth ratio of 2.81 and a beta of 1.08.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.01. Chipotle Mexican Grill had a net margin of 13.59% and a return on equity of 43.29%. The firm had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period in the prior year, the firm posted $13.37 earnings per share. The firm’s quarterly revenue was up 6.4% compared to the same quarter last year. On average, equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insiders Place Their Bets

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the company’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 completion of the transaction, the insider directly owned 109,815 shares in the company, valued at approximately $5,457,805.50. This represents a 50.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.81% of the company’s stock.

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.