Chipotle Mexican Grill, Inc. $CMG Shares Sold by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC trimmed its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,889 shares of the restaurant operator’s stock after selling 1,400 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Chipotle Mexican Grill were worth $2,015,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $27,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $27,000. HighMark Wealth Management LLC raised 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. Finally, North Capital Inc. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth about $30,000. 91.30% of the stock is currently owned by institutional investors.

Chipotle Mexican Grill Price Performance

CMG stock opened at $38.65 on Friday. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The company’s 50 day simple moving average is $45.54 and its 200-day simple moving average is $49.13. The firm has a market capitalization of $51.83 billion, a P/E ratio of 34.51, a P/E/G ratio of 1.98 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last released 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. 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 analyst estimates of $3.11 billion. During the same quarter in the previous year, the business earned $0.34 earnings per share. The firm’s revenue was up 3.0% compared to the same quarter last year. Sell-side analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on CMG shares. Rothschild Redb upgraded shares of Chipotle Mexican Grill from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, September 3rd. TD Cowen dropped their price target on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a “buy” rating on the stock in a research report on Wednesday, July 23rd. Stifel Nicolaus dropped their target price on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating on the stock in a report on Tuesday. UBS Group boosted their target price on shares of Chipotle Mexican Grill from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Thursday, July 17th. Finally, BTIG Research reiterated a “buy” rating and issued a $57.00 target price on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $59.76.

About Chipotle Mexican Grill

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.