Truist Financial Corp Sells 74,820 Shares of Chipotle Mexican Grill, Inc. $CMG

Truist Financial Corp decreased its holdings in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 11.5% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 575,076 shares of the restaurant operator’s stock after selling 74,820 shares during the quarter. Truist Financial Corp’s holdings in Chipotle Mexican Grill were worth $22,537,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Operose Advisors LLC acquired a new position in shares of Chipotle Mexican Grill in the second quarter valued at $25,000. Salomon & Ludwin LLC acquired a new stake in shares of Chipotle Mexican Grill during the third quarter worth $26,000. Lavaca Capital LLC bought a new stake in shares of Chipotle Mexican Grill in the second quarter valued at about $28,000. Activest Wealth Management increased its position in Chipotle Mexican Grill by 109.3% during the second quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 270 shares during the period. Finally, Steigerwald Gordon & Koch Inc. bought a new position in Chipotle Mexican Grill during the third quarter worth about $29,000. 91.30% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on CMG. Morgan Stanley dropped their price objective on Chipotle Mexican Grill from $59.00 to $50.00 and set an “overweight” rating for the company in a report on Thursday, October 30th. Evercore ISI reaffirmed an “outperform” rating and set a $45.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, December 19th. Jefferies Financial Group decreased their target price on shares of Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating on the stock in a report on Monday, October 13th. Northcoast Research downgraded shares of Chipotle Mexican Grill from a “buy” rating to a “neutral” rating in a report on Friday, October 31st. Finally, Royal Bank Of Canada decreased their price objective on shares of Chipotle Mexican Grill from $58.00 to $40.00 and set an “outperform” rating on the stock in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $50.23.

Chipotle Mexican Grill Stock Performance

Chipotle Mexican Grill stock opened at $38.85 on Friday. The stock has a market capitalization of $51.37 billion, a price-to-earnings ratio of 34.38, a PEG ratio of 3.52 and a beta of 0.97. Chipotle Mexican Grill, Inc. has a 52-week low of $29.75 and a 52-week high of $59.19. The stock’s 50 day moving average price is $37.23 and its two-hundred day moving average price is $39.39.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, October 29th. The restaurant operator reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.06 billion. Chipotle Mexican Grill had a net margin of 13.04% and a return on equity of 45.39%. Chipotle Mexican Grill’s revenue was up 7.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.27 earnings per share. On average, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

Chipotle Mexican Grill 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.