Truist Financial Corp Trims Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Truist Financial Corp reduced its stake in Chipotle Mexican Grill by 23.5%, selling 199,188 shares and retaining 649,896 shares valued at approximately $36.49 million.
• Chipotle's recent earnings report showed a profit of $0.33 EPS, slightly exceeding expectations, while revenue grew by 3.0% year-over-year to $3.06 billion.
• Institutional investors own 91.30% of Chipotle Mexican Grill, with various firms adjusting their stakes in the company during recent quarters.

Truist Financial Corp cut its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 23.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 649,896 shares of the restaurant operator's stock after selling 199,188 shares during the quarter. Truist Financial Corp's holdings in Chipotle Mexican Grill were worth $36,492,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill in the first quarter worth about $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. 1248 Management LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $27,000. Signature Resources Capital Management LLC bought a new position in Chipotle Mexican Grill in the 2nd quarter valued at approximately $28,000. Finally, HighMark Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator's stock valued at $29,000 after purchasing an additional 371 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $40.25 on Friday. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The company's fifty day moving average price is $41.57 and its 200-day moving average price is $47.98. The company has a market capitalization of $53.97 billion, a price-to-earnings ratio of 35.94, a PEG ratio of 1.98 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last posted its quarterly earnings results on Wednesday, July 23rd. 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 43.50% and a net margin of 13.32%.The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the prior year, the company posted $0.34 EPS. The firm's revenue for the quarter was up 3.0% compared to the same quarter last year. Equities research analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price target on Chipotle Mexican Grill from $65.00 to $60.00 and set an "overweight" rating on the stock in a report on Thursday, July 24th. Rothschild & Co Redburn upgraded shares of Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 target price on the stock in a research note on Wednesday, September 3rd. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. Guggenheim decreased their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a report on Friday, July 25th. Finally, TD Securities restated a "buy" rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.41.

Chipotle Mexican Grill 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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