Gables Capital Management Inc. Sells 9,900 Shares of Chipotle Mexican Grill, Inc. $CMG

Key Points

• Gables Capital Management Inc. has reduced its position in Chipotle Mexican Grill by 16.1%, selling 9,900 shares and now holds 51,725 shares worth approximately $2.9 million.
• Despite the reduction, ownership of Chipotle by institutional investors is strong, with 91.30% of the stock held by institutions.
• Chipotle's stock recently showed an increase of 1.8% on the market, with a current price of $42.37 and a twelve month low of $38.30.

Gables Capital Management Inc. reduced its position in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 16.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 51,725 shares of the restaurant operator's stock after selling 9,900 shares during the period. Chipotle Mexican Grill comprises 1.4% of Gables Capital Management Inc.'s investment portfolio, making the stock its 20th largest holding. Gables Capital Management Inc.'s holdings in Chipotle Mexican Grill were worth $2,904,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Legacy Wealth Asset Management LLC lifted its stake in shares of Chipotle Mexican Grill by 7.9% in the second quarter. Legacy Wealth Asset Management LLC now owns 33,249 shares of the restaurant operator's stock worth $1,867,000 after acquiring an additional 2,448 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Chipotle Mexican Grill by 3.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 451,887 shares of the restaurant operator's stock worth $25,373,000 after acquiring an additional 17,094 shares during the period. Whittier Trust Co. lifted its stake in shares of Chipotle Mexican Grill by 8.1% in the second quarter. Whittier Trust Co. now owns 1,059,791 shares of the restaurant operator's stock worth $59,507,000 after acquiring an additional 79,798 shares during the period. Klingman & Associates LLC acquired a new position in shares of Chipotle Mexican Grill in the second quarter worth approximately $221,000. Finally, Journey Advisory Group LLC lifted its stake in shares of Chipotle Mexican Grill by 3.4% in the second quarter. Journey Advisory Group LLC now owns 17,560 shares of the restaurant operator's stock worth $986,000 after acquiring an additional 582 shares during the period. 91.30% of the stock is owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 1.8%

Shares of NYSE:CMG opened at $42.37 on Wednesday. Chipotle Mexican Grill, Inc. has a twelve month low of $38.30 and a twelve month high of $66.74. The stock's 50 day moving average is $41.10 and its 200-day moving average is $47.22. The firm has a market capitalization of $56.81 billion, a price-to-earnings ratio of 37.83, a PEG ratio of 2.52 and a beta of 0.99.

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. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The company had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.11 billion. During the same period in the prior year, the firm earned $0.34 earnings per share. Chipotle Mexican Grill'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 fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. TD Cowen reaffirmed a "buy" rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research note on Friday, September 19th. Piper Sandler raised Chipotle Mexican Grill from a "neutral" rating to an "overweight" rating and cut their price objective for the stock from $53.00 to $50.00 in a research note on Tuesday, August 12th. Citigroup cut their price objective on Chipotle Mexican Grill from $68.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, July 24th. Robert W. Baird dropped their price target on Chipotle Mexican Grill from $59.00 to $49.00 and set an "outperform" rating on the stock in a research note on Friday, October 10th. Finally, Wells Fargo & Company dropped their price target on Chipotle Mexican Grill from $60.00 to $55.00 and set an "overweight" rating on the stock in a research note on Thursday, October 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $57.03.

Chipotle Mexican Grill Company Profile

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.

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