Allspring Global Investments Holdings LLC Has $12.65 Million Stock Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Allspring Global Investments Holdings LLC lessened its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 92.7% during the third quarter, HoldingsChannel reports. The firm owned 219,529 shares of the restaurant operator’s stock after selling 2,776,963 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chipotle Mexican Grill were worth $12,649,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Chipotle Mexican Grill in the second quarter valued at about $25,000. Riverview Trust Co boosted its stake in shares of Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Riverview Trust Co now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares in the last quarter. RiverPark Advisors LLC grew its holdings in shares of Chipotle Mexican Grill by 4,900.0% during the 2nd quarter. RiverPark Advisors LLC now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Archer Investment Corp acquired a new position in Chipotle Mexican Grill during the 2nd quarter worth approximately $25,000. Finally, Oliver Lagore Vanvalin Investment Group lifted its stake in Chipotle Mexican Grill by 4,900.0% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 400 shares of the restaurant operator’s stock valued at $25,000 after purchasing an additional 392 shares during the last quarter. Institutional investors own 91.31% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on CMG. Raymond James lowered their price target on shares of Chipotle Mexican Grill from $70.00 to $62.50 and set an “outperform” rating for the company in a report on Thursday, July 25th. Robert W. Baird lowered their target price on Chipotle Mexican Grill from $74.00 to $62.00 and set an “outperform” rating for the company in a report on Wednesday, August 14th. TD Cowen reissued a “buy” rating and set a $65.00 price target on shares of Chipotle Mexican Grill in a research note on Thursday, September 12th. Stephens reaffirmed an “equal weight” rating and issued a $61.00 price objective on shares of Chipotle Mexican Grill in a research note on Tuesday, August 13th. Finally, Piper Sandler lifted their target price on shares of Chipotle Mexican Grill from $56.00 to $59.00 and gave the stock a “neutral” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $63.03.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $59.44 on Friday. The firm has a market cap of $81.63 billion, a PE ratio of 63.23, a price-to-earnings-growth ratio of 2.41 and a beta of 1.25. Chipotle Mexican Grill, Inc. has a 52-week low of $35.97 and a 52-week high of $69.26. The business’s 50 day moving average price is $56.63 and its two-hundred day moving average price is $81.17.

Chipotle Mexican Grill (NYSE:CMG) last released its earnings results on Wednesday, July 24th. The restaurant operator reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. The company had revenue of $2.97 billion for the quarter, compared to the consensus estimate of $2.94 billion. Chipotle Mexican Grill had a net margin of 13.23% and a return on equity of 44.01%. Chipotle Mexican Grill’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $12.65 EPS. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.08 EPS for the current fiscal year.

Insider Activity

In other news, Director Robin S. Hickenlooper sold 1,790 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now directly owns 41,510 shares in the company, valued at $2,340,333.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, Director Robin S. Hickenlooper sold 1,790 shares of Chipotle Mexican Grill stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $56.38, for a total value of $100,920.20. Following the completion of the sale, the director now owns 41,510 shares of the company’s stock, valued at approximately $2,340,333.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Curtis E. Garner sold 15,750 shares of the business’s stock in a transaction on Wednesday, September 11th. The shares were sold at an average price of $55.02, for a total transaction of $866,565.00. Following the sale, the insider now owns 473,514 shares of the company’s stock, valued at $26,052,740.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,684 shares of company stock worth $2,817,127. 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.