Has Chipotle Mexican Grill Lost Its Appetite for Buybacks?

Image source: Chipotle Mexican Grill.

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After aggressively buying back stock for more than six months to take advantage of its low share price, Chipotle Mexican Grill (NYSE: CMG) scaled back its repurchases in the second quarter.

The burrito maker reduced its quarterly buybacks to only $100 million in the three months from April through June. That was one-sixth the amount from the previous quarter, when it repurchased $583 million

Equally significant is the fact that Chipotle didn't take the opportunity to announce a new buyback authorizationwhen submitting its latest quarterly regulatory filing$100 million in May

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