Truist Financial Corp Sells 199,188 Shares of Chipotle Mexican Grill, Inc. $CMG

Truist Financial Corp lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 23.5% during the 2nd quarter, according to its most recent 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 period. Truist Financial Corp’s holdings in Chipotle Mexican Grill were worth $36,492,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the first quarter valued at approximately $25,000. Saudi Central Bank bought a new stake in Chipotle Mexican Grill during the 1st quarter valued at $27,000. 1248 Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth $27,000. Signature Resources Capital Management LLC purchased a new stake in shares of Chipotle Mexican Grill in the 2nd quarter worth $28,000. Finally, HighMark Wealth Management LLC grew its position in shares of Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after buying an additional 371 shares in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

CMG has been the topic of several recent research reports. Piper Sandler upgraded shares of Chipotle Mexican Grill from a “neutral” rating to an “overweight” rating and dropped their target price for the stock from $53.00 to $50.00 in a report on Tuesday, August 12th. Barclays dropped their price objective on shares of 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. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a “neutral” rating and a $55.00 price objective for the company. Stephens reaffirmed an “equal weight” rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a research report on Monday. Finally, TD Securities reissued a “buy” rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $59.41.

Chipotle Mexican Grill Price Performance

Shares of CMG stock opened at $40.25 on Friday. The business has a fifty day moving average of $41.57 and a 200 day moving average of $47.98. The firm has a market capitalization of $53.97 billion, a price-to-earnings ratio of 35.94, a price-to-earnings-growth ratio of 1.98 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74.

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

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.