Truist Financial Corp Sells 650,396 Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG)

Truist Financial Corp lowered its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 43.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 849,084 shares of the restaurant operator's stock after selling 650,396 shares during the period. Truist Financial Corp owned approximately 0.06% of Chipotle Mexican Grill worth $42,632,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. 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 purchasing an additional 176 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Chipotle Mexican Grill by 4.7% in the fourth quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock valued at $290,000 after purchasing an additional 214 shares during the period. Money Concepts Capital Corp raised its position in shares of Chipotle Mexican Grill by 3.0% in the first quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock valued at $376,000 after purchasing an additional 221 shares during the period. SlateStone Wealth LLC raised its position in shares of Chipotle Mexican Grill by 3.4% in the fourth quarter. SlateStone Wealth LLC now owns 7,196 shares of the restaurant operator's stock valued at $434,000 after purchasing an additional 235 shares during the period. Finally, Northwest Bank & Trust Co raised its position in shares of Chipotle Mexican Grill by 0.5% in the fourth quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock valued at $2,788,000 after purchasing an additional 236 shares during the period. Institutional investors own 91.31% of the company's stock.

Chipotle Mexican Grill Trading Down 1.1%

Shares of CMG traded down $0.59 during mid-day trading on Tuesday, reaching $54.87. The company's stock had a trading volume of 1,335,653 shares, compared to its average volume of 12,849,641. The stock has a market cap of $73.93 billion, a PE ratio of 48.56, a P/E/G ratio of 2.83 and a beta of 1.08. Chipotle Mexican Grill, Inc. has a 52 week low of $44.46 and a 52 week high of $66.74. The company's fifty day moving average price is $52.16 and its two-hundred day moving average price is $53.23.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The restaurant operator reported $0.29 EPS for the quarter, beating 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 company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same period in the prior year, the business posted $13.37 EPS. The firm's revenue was up 6.4% compared to the same quarter last year. Research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Insider Buying and Selling

In related 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 sale, the insider directly owned 109,815 shares in the company, valued at $5,457,805.50. This represents a 50.91% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.02% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

CMG has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on shares of Chipotle Mexican Grill from $59.00 to $52.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Royal Bank Of Canada reduced their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Guggenheim set a $47.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, April 25th. Truist Financial reduced their price objective on shares of Chipotle Mexican Grill from $74.00 to $61.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. Finally, Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price objective for the company. Nine research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Chipotle Mexican Grill has a consensus rating of "Moderate Buy" and an average price target of $60.93.

Chipotle Mexican Grill Company 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.