Synovus Financial Corp Raises Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Synovus Financial Corp increased its stake in Chipotle Mexican Grill by 33.9% during Q1, owning a total of 170,633 shares worth approximately $8.57 million.
• Analysts have mixed ratings on Chipotle, with an average target price of **$60.22**, as a range of price adjustments have been made by firms like KeyCorp and BMO Capital Markets.
• Chipotle reported a slight earnings beat in their latest quarterly results, with $0.33 EPS against an expected $0.32, though revenue missed estimates at $3.06 billion.

Synovus Financial Corp increased its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 33.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 170,633 shares of the restaurant operator's stock after buying an additional 43,208 shares during the quarter. Synovus Financial Corp's holdings in Chipotle Mexican Grill were worth $8,567,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC grew its stake in 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 last quarter. Csenge Advisory Group grew its stake in shares of Chipotle Mexican Grill by 5.0% during the first quarter. Csenge Advisory Group now owns 4,603 shares of the restaurant operator's stock worth $222,000 after acquiring an additional 220 shares during the last quarter. Money Concepts Capital Corp grew its stake in shares of Chipotle Mexican Grill by 3.0% during the first quarter. Money Concepts Capital Corp now owns 7,491 shares of the restaurant operator's stock worth $376,000 after acquiring an additional 221 shares during the last quarter. Northwest Bank & Trust Co grew its stake in shares of Chipotle Mexican Grill by 0.5% during the fourth quarter. Northwest Bank & Trust Co now owns 45,324 shares of the restaurant operator's stock worth $2,788,000 after acquiring an additional 236 shares during the last quarter. Finally, Covestor Ltd grew its stake in shares of Chipotle Mexican Grill by 5.3% during the first quarter. Covestor Ltd now owns 4,782 shares of the restaurant operator's stock worth $240,000 after acquiring an additional 242 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

NYSE:CMG traded down $0.23 during trading hours on Tuesday, reaching $42.52. The company had a trading volume of 18,585,710 shares, compared to its average volume of 18,359,364. Chipotle Mexican Grill, Inc. has a 1-year low of $41.18 and a 1-year high of $66.74. The firm has a market cap of $57.01 billion, a PE ratio of 37.96, a price-to-earnings-growth ratio of 2.17 and a beta of 1.05. The business's 50 day moving average price is $49.23 and its 200-day moving average price is $50.37.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) 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 company had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the company posted $0.34 earnings per share. Chipotle Mexican Grill's revenue for the quarter was up 3.0% on a year-over-year basis. On average, analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Insider Transactions at Chipotle Mexican Grill

In other Chipotle Mexican Grill news, insider Roger E. Theodoredis sold 113,875 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $49.70, for a total value of $5,659,587.50. Following the completion of the transaction, the insider directly owned 109,815 shares of the company's stock, valued at approximately $5,457,805.50. The trade was a 50.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 1.02% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on CMG. Citigroup dropped their price target on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Raymond James Financial dropped their price target on Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating on the stock in a research note on Friday, August 15th. Barclays dropped their price target on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating on the stock in a research note on Thursday, July 24th. TD Securities restated a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, June 18th. Finally, BMO Capital Markets upgraded Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $60.22.

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.