Oak Ridge Investments LLC Cuts Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Oak Ridge Investments LLC reduced its stake in Chipotle Mexican Grill by 34.1%, selling 10,007 shares, and now holds 19,375 shares worth approximately $1.08 million.
• Chipotle's stock is currently down 2.5% with a market capitalization of $53.45 billion, while the company reported earnings per share of $0.33 for the last quarter, slightly beating estimates.
• Many institutional investors increased their stakes in Chipotle in the first quarter, notably Goldman Sachs, which raised its stake by 98.1%, now holding nearly 10 million shares valued at $497 million.

Oak Ridge Investments LLC lessened its stake in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 34.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,375 shares of the restaurant operator's stock after selling 10,007 shares during the period. Oak Ridge Investments LLC's holdings in Chipotle Mexican Grill were worth $1,088,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of CMG. Nuveen LLC purchased a new position in Chipotle Mexican Grill in the 1st quarter worth approximately $535,023,000. Goldman Sachs Group Inc. grew its stake in Chipotle Mexican Grill by 98.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 9,900,521 shares of the restaurant operator's stock worth $497,105,000 after buying an additional 4,903,969 shares in the last quarter. Montrusco Bolton Investments Inc. boosted its stake in shares of Chipotle Mexican Grill by 5,319.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 4,848,990 shares of the restaurant operator's stock valued at $235,580,000 after purchasing an additional 4,759,520 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Chipotle Mexican Grill by 7.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 56,827,332 shares of the restaurant operator's stock valued at $2,853,302,000 after purchasing an additional 4,027,016 shares in the last quarter. Finally, Manning & Napier Advisors LLC purchased a new stake in shares of Chipotle Mexican Grill in the 1st quarter valued at $127,892,000. Hedge funds and other institutional investors own 91.30% of the company's stock.

Chipotle Mexican Grill Stock Down 2.5%

Shares of CMG opened at $39.86 on Friday. The stock has a market capitalization of $53.45 billion, a P/E ratio of 35.59, a PEG ratio of 2.03 and a beta of 0.99. The firm has a fifty day simple moving average of $41.18 and a two-hundred day simple moving average of $47.63. Chipotle Mexican Grill, Inc. has a twelve month low of $38.30 and a twelve month high of $66.74.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.01. The business had revenue of $3.06 billion during 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 for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.34 EPS. Sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Barclays cut their price objective on shares of Chipotle Mexican Grill from $55.00 to $53.00 and set an "equal weight" rating for the company in a research note on Thursday, July 24th. 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 note on Thursday, July 24th. Guggenheim cut their price objective on shares of 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. Rothschild & Co Redburn raised shares of Chipotle Mexican Grill from a "neutral" rating to a "buy" rating and set a $55.00 price objective for the company in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Chipotle Mexican Grill in a research note on Wednesday. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $58.93.

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.

Want to see what other hedge funds are holding CMG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.