First Citizens Bank & Trust Co. Purchases 158,922 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• First Citizens Bank & Trust Co. increased its Chipotle position by 1,494% in the third quarter, buying 158,922 additional shares to hold 169,559 shares worth approximately $5.4 million.
• Chipotle reported quarterly revenue of $3.35 billion and earnings of $0.33 per share, exceeding analyst estimates, while revenue rose 9.3% year over year.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $43.91; institutional investors own 91.3% of the stock.

First Citizens Bank & Trust Co. grew its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 1,494.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 169,559 shares of the restaurant operator's stock after purchasing an additional 158,922 shares during the period. First Citizens Bank & Trust Co.'s holdings in Chipotle Mexican Grill were worth $5,417,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in Chipotle Mexican Grill in the 2nd quarter worth approximately $4,417,475,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Chipotle Mexican Grill by 19.8% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 16,478,248 shares of the restaurant operator's stock worth $527,469,000 after purchasing an additional 2,727,762 shares during the period. Amundi lifted its stake in shares of Chipotle Mexican Grill by 23.3% during the 1st quarter. Amundi now owns 11,980,192 shares of the restaurant operator's stock worth $383,486,000 after purchasing an additional 2,266,087 shares during the period. Bank of America Corp DE lifted its stake in shares of Chipotle Mexican Grill by 86.1% during the 1st quarter. Bank of America Corp DE now owns 11,973,752 shares of the restaurant operator's stock worth $383,280,000 after purchasing an additional 5,541,385 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Chipotle Mexican Grill by 30.6% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 10,845,627 shares of the restaurant operator's stock worth $368,751,000 after purchasing an additional 2,541,795 shares during the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 0.4%

CMG stock opened at $30.48 on Thursday. The company has a market cap of $38.57 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.86 and a beta of 0.96. The business has a fifty day simple moving average of $34.09 and a 200-day simple moving average of $33.49. Chipotle Mexican Grill, Inc. has a 52 week low of $28.03 and a 52 week high of $42.81.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 29th. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.01. Chipotle Mexican Grill had a return on equity of 54.65% and a net margin of 11.43%. The business had revenue of $3.35 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period last year, the company posted $0.33 EPS. The business's quarterly revenue was up 9.3% on a year-over-year basis. As a group, analysts expect that Chipotle Mexican Grill, Inc. will post 1.14 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other news, insider Matthew R. Bush sold 2,675 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $35.75, for a total value of $95,631.25. Following the completion of the sale, the insider owned 21,415 shares of the company's stock, valued at $765,586.25. This represents a 11.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. DA Davidson lifted their price objective on Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, July 30th. Seaport Research Partners began coverage on Chipotle Mexican Grill in a research report on Wednesday, September 16th. They set a "neutral" rating on the stock. Morgan Stanley increased their target price on Chipotle Mexican Grill from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 30th. Piper Sandler decreased their price target on Chipotle Mexican Grill from $42.00 to $39.00 and set an "overweight" rating on the stock in a research note on Thursday, July 30th. Finally, Bank of America restated a "buy" rating and issued a $53.00 price target (up from $50.00) on shares of Chipotle Mexican Grill in a report on Tuesday, September 1st. Twenty-three analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.91.

About Chipotle Mexican Grill

Chipotle Mexican Grill, Inc is a fast-casual restaurant company that specializes in Mexican-inspired food made with a limited number of core ingredients. Its menu includes burritos, burrito bowls, tacos, quesadillas, salads and sides, with options such as chicken, steak, barbacoa, carnitas, sofritas and vegetables. The company also offers beverages, including soft drinks and other drinks, and allows customers to customize meals.

Founded by Steve Ells in 1993, Chipotle operates company-owned restaurants under the Chipotle Mexican Grill brand.

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