Harbour Capital Advisors LLC Cuts Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Harbour Capital Advisors LLC drastically cut its holdings in Chipotle Mexican Grill by 91.3%, selling 49,610 shares to end up with 4,750 shares valued at $270,000.
• Several other institutional investors have made recent changes to their stakes, with Pinnacle Bancorp acquiring a new stake valued at $44,000 and Shelton Wealth Management increasing its position by 410.2%.
• Analysts have mixed views on the stock, with a consensus rating of "Moderate Buy" and a price target averaging around $59.76, reflecting differing expectations on the company's future performance.

Harbour Capital Advisors LLC lowered its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 91.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,750 shares of the restaurant operator's stock after selling 49,610 shares during the quarter. Harbour Capital Advisors LLC's holdings in Chipotle Mexican Grill were worth $270,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Chipotle Mexican Grill by 5.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after purchasing an additional 491,002 shares during the last quarter. Corient IA LLC purchased a new position in Chipotle Mexican Grill during the 1st quarter worth $753,000. Advisors Asset Management Inc. boosted its holdings in Chipotle Mexican Grill by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock worth $3,784,000 after acquiring an additional 18,458 shares during the last quarter. Banco Santander S.A. boosted its holdings in Chipotle Mexican Grill by 47.6% during the 1st quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock worth $1,595,000 after acquiring an additional 10,246 shares during the last quarter. Finally, Community Trust & Investment Co. bought a new stake in shares of Chipotle Mexican Grill during the 1st quarter worth $7,773,000. Institutional investors and hedge funds own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Performance

Shares of CMG traded down $0.33 during midday trading on Tuesday, hitting $39.80. 10,313,870 shares of the stock were exchanged, compared to its average volume of 14,942,675. Chipotle Mexican Grill, Inc. has a 52-week low of $38.30 and a 52-week high of $66.74. The stock has a fifty day simple moving average of $43.59 and a 200 day simple moving average of $48.52. The firm has a market cap of $53.37 billion, a P/E ratio of 35.53, a P/E/G ratio of 2.00 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly 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. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company's quarterly revenue was up 3.0% on a year-over-year basis. During the same period last year, the business posted $0.34 earnings per share. As a group, equities research analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Stephens reaffirmed an "equal weight" rating and set a $60.00 target price on shares of Chipotle Mexican Grill in a report on Thursday, September 11th. 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. Truist Financial lowered their price objective on Chipotle Mexican Grill from $64.00 to $60.00 and set a "buy" rating for the company in a research report on Friday, July 25th. Robert W. Baird decreased their target price on Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Finally, TD Cowen restated a "buy" rating and set a $58.00 target price on shares of Chipotle Mexican Grill in a report on Friday. Two analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, Chipotle Mexican Grill currently has a consensus 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.