Praxis Investment Management Inc. Reduces Holdings in Chipotle Mexican Grill, Inc. $CMG

Praxis Investment Management Inc. decreased its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 20.0% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 35,120 shares of the restaurant operator’s stock after selling 8,780 shares during the period. Praxis Investment Management Inc.’s holdings in Chipotle Mexican Grill were worth $1,972,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of CMG. Signature Resources Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill during the 2nd quarter valued at about $28,000. Cloud Capital Management LLC bought a new stake in shares of Chipotle Mexican Grill in the 1st quarter worth approximately $25,000. Activest Wealth Management raised its holdings in shares of Chipotle Mexican Grill by 109.3% in the 2nd quarter. Activest Wealth Management now owns 517 shares of the restaurant operator’s stock worth $29,000 after purchasing an additional 270 shares in the last quarter. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Chipotle Mexican Grill during the second quarter valued at approximately $29,000. Finally, 1248 Management LLC acquired a new stake in shares of Chipotle Mexican Grill during the first quarter valued at approximately $27,000. Institutional investors own 91.30% of the company’s stock.

Chipotle Mexican Grill Price Performance

Shares of Chipotle Mexican Grill stock opened at $41.73 on Friday. 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 fifty day moving average price of $41.10 and a two-hundred day moving average price of $47.41. The company has a market cap of $55.96 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 2.52 and a beta of 0.99.

Chipotle Mexican Grill (NYSE:CMG) last announced its quarterly earnings data 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 company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations 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 revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.34 EPS. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

CMG has been the topic of several research reports. TD Cowen reiterated a “buy” rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, September 19th. Stifel Nicolaus decreased their price objective on shares of Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a report on Tuesday, September 9th. Jefferies Financial Group decreased their price objective on shares of Chipotle Mexican Grill from $48.00 to $44.00 and set a “hold” rating for the company in a report on Monday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Chipotle Mexican Grill in a report on Wednesday, October 8th. Finally, UBS Group upped their price objective 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. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.55.

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.