Fifth Third Bancorp Decreases Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Fifth Third Bancorp has reduced its holdings in Chipotle Mexican Grill by 2.4%, owning approximately 744,931 shares after selling 18,074 shares in Q2.
• Chipotle reported $0.33 earnings per share for the quarter, beating analysts' expectations of $0.32, with a 3.0% year-over-year revenue increase.
• Analysts have mixed ratings for Chipotle's stock, with 21 "Buy" ratings and a consensus price target of $59.76, while Wells Fargo has cut its price objective from $65 to $60.

Fifth Third Bancorp lowered its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 2.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 744,931 shares of the restaurant operator's stock after selling 18,074 shares during the period. Fifth Third Bancorp owned approximately 0.06% of Chipotle Mexican Grill worth $41,828,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new position in shares of Chipotle Mexican Grill during the first quarter worth $25,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Chipotle Mexican Grill during the 2nd quarter valued at about $29,000. 1248 Management LLC acquired a new position in Chipotle Mexican Grill during the 1st quarter valued at about $27,000. Saudi Central Bank purchased a new stake in Chipotle Mexican Grill in the first quarter valued at about $27,000. Finally, HighMark Wealth Management LLC boosted its holdings in Chipotle Mexican Grill by 173.4% in the first quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock worth $29,000 after acquiring an additional 371 shares in the last quarter. Institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Performance

NYSE:CMG opened at $39.55 on Thursday. The firm's fifty day moving average is $43.03 and its two-hundred day moving average is $48.39. The firm has a market cap of $53.03 billion, a price-to-earnings ratio of 35.31, a PEG ratio of 2.02 and a beta of 1.02. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. During the same quarter last year, the business posted $0.34 EPS. The company's revenue was up 3.0% on a year-over-year basis. As a group, equities research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on CMG. Wells Fargo & Company cut their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Melius started coverage on shares of Chipotle Mexican Grill in a report on Monday, July 14th. They issued a "hold" rating and a $60.00 price target for the company. TD Securities reiterated a "buy" rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Stephens reissued an "equal weight" rating and issued a $60.00 target price on shares of Chipotle Mexican Grill in a research report on Thursday, September 11th. Finally, Redburn Atlantic assumed coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat.com, Chipotle Mexican Grill presently has an average rating of "Moderate Buy" and a consensus price target of $59.76.

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.

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