Great Lakes Advisors LLC Decreases Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Great Lakes Advisors LLC reduced its stake in Chipotle Mexican Grill by 62.7% in Q1, now holding 7,687 shares worth $386,000 after selling 12,913 shares.
• Chipotle's quarterly earnings report showed an EPS of $0.33, surpassing expectations, but revenues of $3.06 billion fell short of the projected $3.11 billion.
• Analysts have adjusted their target prices for Chipotle, with the consensus now around $59.76, amidst varying ratings from "Strong Buy" to "Hold."

Great Lakes Advisors LLC reduced its stake in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 62.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,687 shares of the restaurant operator's stock after selling 12,913 shares during the period. Great Lakes Advisors LLC's holdings in Chipotle Mexican Grill were worth $386,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Voleon Capital Management LP raised its position in shares of Chipotle Mexican Grill by 413.1% during the 1st quarter. Voleon Capital Management LP now owns 175,864 shares of the restaurant operator's stock worth $8,830,000 after purchasing an additional 141,592 shares during the last quarter. Challenger Wealth Management acquired a new position in shares of Chipotle Mexican Grill during the 1st quarter worth approximately $285,000. Ashton Thomas Private Wealth LLC raised its position in shares of Chipotle Mexican Grill by 48.7% during the 1st quarter. Ashton Thomas Private Wealth LLC now owns 9,016 shares of the restaurant operator's stock worth $453,000 after purchasing an additional 2,954 shares during the last quarter. Redwood Investments LLC raised its position in shares of Chipotle Mexican Grill by 32.9% during the 1st quarter. Redwood Investments LLC now owns 34,526 shares of the restaurant operator's stock worth $1,734,000 after purchasing an additional 8,546 shares during the last quarter. Finally, Kestra Investment Management LLC raised its position in shares of Chipotle Mexican Grill by 158.3% during the 1st quarter. Kestra Investment Management LLC now owns 4,184 shares of the restaurant operator's stock worth $210,000 after purchasing an additional 2,564 shares during the last quarter. 91.30% of the stock is currently owned by institutional investors and hedge funds.

Chipotle Mexican Grill Stock Up 1.7%

Shares of NYSE CMG traded up $0.67 during trading on Tuesday, hitting $39.25. 23,502,586 shares of the company traded hands, compared to its average volume of 14,687,376. Chipotle Mexican Grill, Inc. has a 1 year low of $38.30 and a 1 year high of $66.74. The company has a 50-day moving average price of $45.20 and a 200-day moving average price of $48.97. The firm has a market capitalization of $52.63 billion, a P/E ratio of 35.04, a P/E/G ratio of 1.97 and a beta of 1.02.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings data on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $3.11 billion. During the same period in the previous year, the company earned $0.34 EPS. The business's quarterly revenue was up 3.0% compared to the same quarter last year. Research analysts predict that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

CMG has been the subject of several research reports. Barclays cut their price objective on Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research report on Thursday, July 24th. TD Securities reiterated a "buy" rating and issued a $57.00 price target on shares of Chipotle Mexican Grill in a report on Wednesday, June 18th. TD Cowen cut their price target on Chipotle Mexican Grill from $61.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, July 23rd. BMO Capital Markets upgraded Chipotle Mexican Grill from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $56.00 to $65.00 in a report on Friday, July 18th. Finally, Rothschild Redb upgraded Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a report on Wednesday, September 3rd. Two equities research 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. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus target price of $59.76.

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.