Chipotle Mexican Grill, Inc. $CMG Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 34.2% in the third quarter, Holdings Channel.com reports. The firm owned 283,407 shares of the restaurant operator’s stock after acquiring an additional 72,167 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Chipotle Mexican Grill were worth $11,044,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in CMG. Ascent Group LLC boosted its stake in shares of Chipotle Mexican Grill by 3.5% during the 2nd quarter. Ascent Group LLC now owns 5,752 shares of the restaurant operator’s stock valued at $323,000 after buying an additional 193 shares during the period. E. Ohman J or Asset Management AB increased its stake in shares of Chipotle Mexican Grill by 0.3% in the second quarter. E. Ohman J or Asset Management AB now owns 59,234 shares of the restaurant operator’s stock worth $3,326,000 after acquiring an additional 194 shares during the last quarter. Occidental Asset Management LLC raised its holdings in shares of Chipotle Mexican Grill by 2.8% during the second quarter. Occidental Asset Management LLC now owns 7,257 shares of the restaurant operator’s stock worth $407,000 after acquiring an additional 195 shares in the last quarter. Perennial Advisors LLC raised its holdings in shares of Chipotle Mexican Grill by 3.1% during the second quarter. Perennial Advisors LLC now owns 6,667 shares of the restaurant operator’s stock worth $374,000 after acquiring an additional 200 shares in the last quarter. Finally, Quent Capital LLC boosted its position in Chipotle Mexican Grill by 2.0% during the second quarter. Quent Capital LLC now owns 10,555 shares of the restaurant operator’s stock valued at $593,000 after purchasing an additional 208 shares during the last quarter. Institutional investors and hedge funds own 91.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on CMG. JPMorgan Chase & Co. cut their price target on Chipotle Mexican Grill from $44.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, October 30th. Northcoast Research downgraded Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a report on Friday, October 31st. KeyCorp cut their price objective on shares of Chipotle Mexican Grill from $52.00 to $45.00 and set an “overweight” rating on the stock in a research report on Thursday, October 30th. Zacks Research upgraded shares of Chipotle Mexican Grill from a “strong sell” rating to a “hold” rating in a research note on Monday, December 29th. Finally, Morgan Stanley dropped their price target on shares of Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.19.

Chipotle Mexican Grill Stock Up 2.0%

Shares of CMG stock opened at $38.26 on Tuesday. Chipotle Mexican Grill, Inc. has a 12 month low of $29.75 and a 12 month high of $59.93. The company has a market cap of $50.58 billion, a PE ratio of 33.85, a price-to-earnings-growth ratio of 3.66 and a beta of 0.97. The business’s 50 day moving average is $34.32 and its two-hundred day moving average is $41.28.

Chipotle Mexican Grill (NYSE:CMG) last announced its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. The business’s quarterly revenue was up 7.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.27 EPS. As a group, equities analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Chipotle Mexican Grill Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.