Truist Financial Corp Has $17.52 Million Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Truist Financial cut its Chipotle stake by 17.7% in Q4, selling 101,690 shares and now holds 473,386 shares valued at about $17.52 million.
• Analysts collectively rate Chipotle a "Moderate Buy" with an average target of $46.03 (24 Buy, 11 Hold), though recent reports have moved target prices in both directions.
• Chipotle reported quarterly EPS $0.24 (in line) and revenue of $3.09 billion (slightly above estimates) with revenue up 7.4% YoY; shares trade near $32.74 (52-week range: $29.75–$58.42).

Truist Financial Corp cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 473,386 shares of the restaurant operator's stock after selling 101,690 shares during the quarter. Truist Financial Corp's holdings in Chipotle Mexican Grill were worth $17,515,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Wealth Watch Advisors INC bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Financial Life Planners bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $25,000. Steigerwald Gordon & Koch Inc. bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $29,000. Murphy & Mullick Capital Management Corp raised its position in shares of Chipotle Mexican Grill by 106.7% in the third quarter. Murphy & Mullick Capital Management Corp now owns 775 shares of the restaurant operator's stock valued at $30,000 after purchasing an additional 400 shares during the period. Finally, Winthrop Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the third quarter valued at approximately $31,000. Institutional investors own 91.30% of the company's stock.

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Analysts Set New Price Targets

A number of research firms have recently commented on CMG. Morgan Stanley dropped their price target on shares of Chipotle Mexican Grill from $50.00 to $49.00 and set an "overweight" rating on the stock in a research report on Wednesday, February 4th. Truist Financial lifted their price target on shares of Chipotle Mexican Grill from $45.00 to $50.00 and gave the company a "buy" rating in a research report on Thursday, January 8th. Gordon Haskett lowered shares of Chipotle Mexican Grill from a "strong-buy" rating to a "hold" rating in a research report on Thursday, January 8th. Wall Street Zen raised shares of Chipotle Mexican Grill from a "sell" rating to a "hold" rating in a research report on Saturday, March 7th. Finally, Piper Sandler dropped their price target on shares of Chipotle Mexican Grill from $44.00 to $42.00 and set an "overweight" rating on the stock in a research report on Thursday, April 30th. Twenty-four research analysts have rated the stock with a Buy rating and eleven have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $46.03.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $32.74 on Thursday. The firm has a market capitalization of $41.99 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.08 and a beta of 1.03. The company's fifty day moving average price is $34.19 and its two-hundred day moving average price is $35.77. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $58.42.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The restaurant operator reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.24. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.07 billion. Chipotle Mexican Grill had a net margin of 11.96% and a return on equity of 49.64%. The business's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.29 EPS. Analysts predict that Chipotle Mexican Grill, Inc. will post 1.13 earnings per share for the current fiscal year.

Chipotle Mexican Grill Company Profile

Chipotle Mexican Grill is a fast-casual restaurant company known for its Mexican-inspired menu of burritos, bowls, tacos and salads. Founded in 1993 by Steve Ells, the chain emphasizes fresh, customizable meals made from a limited menu of core ingredients and a focus on ingredient quality. Chipotle operates primarily company-owned restaurants and offers dine-in, takeout, catering and delivery through its own digital platforms and third-party partners.

The company is headquartered in Newport Beach, California, and traces its roots to Denver, Colorado.

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