RMR Wealth Builders Cuts Stock Holdings in Chipotle Mexican Grill, Inc. $CMG

RMR Wealth Builders decreased its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) by 1.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,750 shares of the restaurant operator’s stock after selling 337 shares during the quarter. RMR Wealth Builders’ holdings in Chipotle Mexican Grill were worth $1,053,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Cloud Capital Management LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $25,000. Saudi Central Bank purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $27,000. 1248 Management LLC purchased a new position in shares of Chipotle Mexican Grill during the first quarter worth about $27,000. HighMark Wealth Management LLC boosted its stake in Chipotle Mexican Grill by 173.4% in the first 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. purchased a new stake in Chipotle Mexican Grill in the first quarter worth approximately $30,000. Hedge funds and other institutional investors own 91.30% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on CMG. JPMorgan Chase & Co. cut their target price on Chipotle Mexican Grill from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Thursday, May 29th. Guggenheim cut their target price on Chipotle Mexican Grill from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Friday, July 25th. Citigroup cut their target price on Chipotle Mexican Grill from $68.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, July 24th. Stifel Nicolaus cut their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, September 9th. Finally, Melius began coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a “hold” rating and a $60.00 target price for the company. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, Chipotle Mexican Grill currently has an average rating of “Moderate Buy” and an average target price of $59.76.

Chipotle Mexican Grill Stock Down 0.8%

Shares of NYSE CMG opened at $38.65 on Monday. Chipotle Mexican Grill, Inc. has a 52 week low of $38.30 and a 52 week high of $66.74. The firm’s fifty day moving average is $45.54 and its 200 day moving average is $49.08. The company has a market cap of $51.83 billion, a price-to-earnings ratio of 34.51, a PEG ratio of 1.97 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS 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 company had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.11 billion. During the same period in the previous year, the firm earned $0.34 earnings per share. The firm’s revenue for the quarter was up 3.0% on a year-over-year basis. Equities research analysts anticipate that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current 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.