Chipotle Mexican Grill, Inc. $CMG Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lessened its position in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 310,629 shares of the restaurant operator’s stock after selling 53,666 shares during the period. PNC Financial Services Group Inc.’s holdings in Chipotle Mexican Grill were worth $12,174,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Operose Advisors LLC bought a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $25,000. Salomon & Ludwin LLC acquired a new stake in Chipotle Mexican Grill in the 3rd quarter valued at approximately $26,000. Lavaca Capital LLC bought a new stake in Chipotle Mexican Grill during the 2nd quarter valued at $28,000. Steigerwald Gordon & Koch Inc. acquired a new position in Chipotle Mexican Grill during the 3rd quarter worth $29,000. Finally, Murphy & Mullick Capital Management Corp grew its stake 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 worth $30,000 after purchasing an additional 400 shares in the last quarter. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Price Performance

NYSE CMG opened at $38.77 on Thursday. Chipotle Mexican Grill, Inc. has a 12 month low of $29.75 and a 12 month high of $58.42. The company has a market capitalization of $50.49 billion, a P/E ratio of 34.01, a PEG ratio of 2.31 and a beta of 0.99. The company’s 50 day simple moving average is $38.37 and its 200 day simple moving average is $38.35.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Tuesday, February 3rd. The restaurant operator reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.01. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.96 billion. Chipotle Mexican Grill had a net margin of 12.88% and a return on equity of 47.99%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.25 earnings per share. On average, analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

Wall Street Analyst Weigh In

CMG has been the topic of a number of research analyst reports. KeyCorp lowered their price target on Chipotle Mexican Grill from $45.00 to $42.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Mizuho dropped their price target on shares of Chipotle Mexican Grill from $38.00 to $37.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 4th. TD Cowen reaffirmed a “buy” rating and issued a $44.00 price target on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $48.00 price objective on shares of Chipotle Mexican Grill in a research note on Wednesday, February 4th. Finally, Piper Sandler dropped their target price on Chipotle Mexican Grill from $47.00 to $44.00 and set an “overweight” rating on the stock in a report on Wednesday, February 4th. Twenty-two investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Chipotle Mexican Grill has a consensus rating of “Moderate Buy” and an average price target of $47.24.

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.