Oak Ridge Investments LLC Sells 10,007 Shares of Chipotle Mexican Grill, Inc. $CMG

Oak Ridge Investments LLC cut its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG) by 34.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 19,375 shares of the restaurant operator’s stock after selling 10,007 shares during the quarter. Oak Ridge Investments LLC’s holdings in Chipotle Mexican Grill were worth $1,088,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Cloud Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $25,000. Saudi Central Bank bought a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $27,000. 1248 Management LLC bought a new position in shares of Chipotle Mexican Grill in the 1st quarter worth about $27,000. Signature Resources Capital Management LLC bought a new position in shares of Chipotle Mexican Grill in the 2nd quarter worth about $28,000. Finally, HighMark Wealth Management LLC increased its stake in shares of Chipotle Mexican Grill by 173.4% in the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock worth $29,000 after acquiring an additional 371 shares in the last quarter. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Stock Down 2.5%

Shares of NYSE CMG opened at $39.86 on Friday. The firm’s 50-day moving average price is $41.18 and its 200-day moving average price is $47.63. The company has a market cap of $53.45 billion, a PE ratio of 35.59, a PEG ratio of 2.03 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74.

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $56.00 to $65.00 in a research note on Friday, July 18th. TD Cowen reiterated a “buy” rating and issued a $58.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, September 19th. BTIG Research reiterated a “buy” rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a research note on Friday, September 5th. Raymond James Financial cut their price objective on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an “outperform” rating on the stock in a research report on Friday, August 15th. Finally, Guggenheim cut their price objective on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating on the stock in a research report on Friday, July 25th. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat.com, Chipotle Mexican Grill has an average rating of “Moderate Buy” and an average price target of $58.93.

Chipotle Mexican Grill Company 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.