Chipotle Mexican Grill, Inc. $CMG Position Decreased by Carderock Capital Management Inc.

Key Points

• Carderock Capital Management Inc. has reduced its stake in Chipotle Mexican Grill by 7.6%, selling 8,226 shares and now holding 99,496 shares valued at approximately $5.59 million.
• Chipotle's recent quarterly earnings reported an EPS of $0.33, slightly above the consensus estimate of $0.32, with revenue of $3.06 billion, which was below the expected $3.11 billion.
• Analysts have set a consensus price target of $59.76 for Chipotle stock, with ratings that include two Strong Buy, twenty-one Buy, and eight Hold ratings.

Carderock Capital Management Inc. trimmed its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 7.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 99,496 shares of the restaurant operator's stock after selling 8,226 shares during the period. Carderock Capital Management Inc.'s holdings in Chipotle Mexican Grill were worth $5,587,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. YHB Investment Advisors Inc. grew its position in Chipotle Mexican Grill by 2.0% during the 2nd quarter. YHB Investment Advisors Inc. now owns 63,119 shares of the restaurant operator's stock worth $3,544,000 after purchasing an additional 1,251 shares during the last quarter. Family Legacy Financial Solutions LLC acquired a new position in Chipotle Mexican Grill during the second quarter worth about $140,000. NorthCrest Asset Manangement LLC raised its position in Chipotle Mexican Grill by 6.4% during the second quarter. NorthCrest Asset Manangement LLC now owns 28,279 shares of the restaurant operator's stock worth $1,614,000 after acquiring an additional 1,710 shares during the last quarter. Community Trust & Investment Co. raised its position in Chipotle Mexican Grill by 6.0% during the second quarter. Community Trust & Investment Co. now owns 164,089 shares of the restaurant operator's stock worth $9,214,000 after acquiring an additional 9,280 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in Chipotle Mexican Grill by 6.2% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 396,506 shares of the restaurant operator's stock worth $22,629,000 after acquiring an additional 23,074 shares during the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on CMG shares. TD Securities restated a "buy" rating and set a $57.00 target price on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Guggenheim cut their target price on shares of Chipotle Mexican Grill from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Friday, July 25th. Stifel Nicolaus cut 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 research report on Tuesday, September 9th. Citigroup cut their price objective on shares of Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating for the company in a research report on Thursday, July 24th. Finally, Rothschild Redb raised shares of Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. 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 company's stock. Based on data from MarketBeat.com, Chipotle Mexican Grill has an average rating of "Moderate Buy" and a consensus target price of $59.76.

Chipotle Mexican Grill Price Performance

CMG traded down $0.51 during trading on Friday, hitting $39.30. The company had a trading volume of 36,393,078 shares, compared to its average volume of 18,575,692. The company has a market cap of $52.70 billion, a PE ratio of 35.09, a P/E/G ratio of 2.00 and a beta of 1.02. The business has a 50-day moving average of $43.88 and a 200-day moving average of $48.61. Chipotle Mexican Grill, Inc. has a 1-year low of $38.30 and a 1-year high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last issued its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, topping analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for 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 firm's revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.34 earnings per share. Research analysts forecast 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.