Chipotle Mexican Grill, Inc. $CMG Stock Position Reduced by Harbor Investment Advisory LLC

Harbor Investment Advisory LLC cut its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 3.8% during the second quarter, HoldingsChannel.com reports. The firm owned 35,889 shares of the restaurant operator’s stock after selling 1,400 shares during the period. Harbor Investment Advisory LLC’s holdings in Chipotle Mexican Grill were worth $2,015,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new position in Chipotle Mexican Grill during the first quarter valued at approximately $25,000. Saudi Central Bank bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $27,000. 1248 Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $27,000. HighMark Wealth Management LLC raised its stake in Chipotle Mexican Grill by 173.4% during the 1st quarter. HighMark Wealth Management LLC now owns 585 shares of the restaurant operator’s stock valued at $29,000 after purchasing an additional 371 shares during the last quarter. Finally, North Capital Inc. acquired a new position in Chipotle Mexican Grill during the 1st quarter valued at $30,000. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on CMG shares. BMO Capital Markets upgraded shares of Chipotle Mexican Grill from a “market perform” rating to an “outperform” rating and upped their target price for the company from $56.00 to $65.00 in a research note on Friday, July 18th. TD Securities reiterated a “buy” rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Rothschild & Co Redburn upgraded shares of Chipotle Mexican Grill from a “neutral” rating to a “buy” rating and set a $55.00 target price for the company in a research report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and set a $57.00 price objective on shares of Chipotle Mexican Grill in a report on Friday, September 5th. Finally, TD Cowen decreased their price objective on shares of Chipotle Mexican Grill from $61.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, July 23rd. Two equities 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 stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $59.76.

Chipotle Mexican Grill Price Performance

Chipotle Mexican Grill stock opened at $38.65 on Friday. The company’s 50 day simple moving average is $45.54 and its 200 day simple moving average is $49.13. Chipotle Mexican Grill, Inc. has a fifty-two week low of $38.30 and a fifty-two week high of $66.74. The firm has a market capitalization of $51.83 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.98 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last released its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping the consensus estimate 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 last year, the firm earned $0.34 EPS. Chipotle Mexican Grill’s quarterly revenue was up 3.0% compared to the same quarter last year. As a group, analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

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.