Allstate Corp Takes $2.43 Million Position in Chipotle Mexican Grill, Inc. (NYSE:CMG)

Allstate Corp acquired a new position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 40,230 shares of the restaurant operator’s stock, valued at approximately $2,426,000.

Several other institutional investors have also recently added to or reduced their stakes in CMG. Tortoise Investment Management LLC raised its position in shares of Chipotle Mexican Grill by 14.0% in the fourth quarter. Tortoise Investment Management LLC now owns 1,436 shares of the restaurant operator’s stock valued at $87,000 after buying an additional 176 shares during the last quarter. Traynor Capital Management Inc. grew its stake in Chipotle Mexican Grill by 2.5% in the 4th quarter. Traynor Capital Management Inc. now owns 7,522 shares of the restaurant operator’s stock worth $454,000 after acquiring an additional 181 shares during the period. BTC Capital Management Inc. raised its holdings in Chipotle Mexican Grill by 1.9% in the 4th quarter. BTC Capital Management Inc. now owns 9,969 shares of the restaurant operator’s stock valued at $601,000 after acquiring an additional 184 shares during the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Chipotle Mexican Grill by 4.7% during the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator’s stock worth $290,000 after purchasing an additional 214 shares during the period. Finally, Confluence Wealth Services Inc. boosted its holdings in shares of Chipotle Mexican Grill by 4.2% during the fourth quarter. Confluence Wealth Services Inc. now owns 5,391 shares of the restaurant operator’s stock worth $310,000 after purchasing an additional 218 shares during the last quarter. Institutional investors and hedge funds own 91.31% of the company’s stock.

Wall Street Analysts Forecast Growth

CMG has been the subject of several analyst reports. Wells Fargo & Company dropped their target price on Chipotle Mexican Grill from $75.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, February 5th. Truist Financial upped their price objective on shares of Chipotle Mexican Grill from $72.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Piper Sandler decreased their target price on shares of Chipotle Mexican Grill from $60.00 to $59.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. JPMorgan Chase & Co. dropped their price target on shares of Chipotle Mexican Grill from $64.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, March 20th. Finally, Jefferies Financial Group lifted their price target on shares of Chipotle Mexican Grill from $56.00 to $62.00 and gave the company a “hold” rating in a report on Monday, December 16th. Eight analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.67.

Chipotle Mexican Grill Stock Performance

Shares of CMG opened at $49.91 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $47.55 and a one year high of $69.26. The stock has a 50-day moving average price of $53.81 and a 200 day moving average price of $57.56. The company has a market capitalization of $67.64 billion, a P/E ratio of 44.95, a P/E/G ratio of 2.04 and a beta of 1.27.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings results on Tuesday, February 4th. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. Chipotle Mexican Grill had a net margin of 13.56% and a return on equity of 42.92%. As a group, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

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.