Park National Corp OH Reduces Stock Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Park National Corp OH reduced its holdings in Chipotle Mexican Grill by 48.6%, now owning 280,312 shares valued at around $15.74 million.
• Several hedge funds, including Vanguard Group and Price T Rowe Associates, have increased their positions in Chipotle, highlighting a strong interest from institutional investors, who now own 91.30% of the company's stock.
• Chipotle reported earnings per share (EPS) of $0.33 for the last quarter, slightly exceeding analyst expectations, although revenue fell short of estimates at $3.06 billion.

Park National Corp OH lowered its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 48.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 280,312 shares of the restaurant operator's stock after selling 265,141 shares during the quarter. Park National Corp OH's holdings in Chipotle Mexican Grill were worth $15,740,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Kera Capital Partners Inc. increased its holdings in shares of Chipotle Mexican Grill by 2.9% in the second quarter. Kera Capital Partners Inc. now owns 41,680 shares of the restaurant operator's stock worth $2,340,000 after purchasing an additional 1,159 shares during the period. Cullen Investment Group LTD. grew its position in Chipotle Mexican Grill by 31.0% in the second quarter. Cullen Investment Group LTD. now owns 30,231 shares of the restaurant operator's stock worth $1,697,000 after acquiring an additional 7,150 shares in the last quarter. AG2R LA Mondiale Gestion D Actifs purchased a new position in Chipotle Mexican Grill in the first quarter worth $2,539,000. Maple Capital Management Inc. grew its position in Chipotle Mexican Grill by 5.3% in the first quarter. Maple Capital Management Inc. now owns 330,664 shares of the restaurant operator's stock worth $16,603,000 after acquiring an additional 16,537 shares in the last quarter. Finally, 1248 Management LLC purchased a new position in Chipotle Mexican Grill in the first quarter worth $27,000. Institutional investors own 91.30% of the company's stock.

Analysts Set New Price Targets

CMG has been the subject of several research reports. JPMorgan Chase & Co. cut their target price on shares of Chipotle Mexican Grill from $58.00 to $54.00 and set a "neutral" rating for the company in a research report on Thursday, May 29th. Robert W. Baird cut their target price on shares of Chipotle Mexican Grill from $62.00 to $59.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Redburn Atlantic initiated coverage on shares of Chipotle Mexican Grill in a research report on Tuesday, June 10th. They set a "neutral" rating and a $55.00 price target for the company. Raymond James Financial cut their price target on shares of Chipotle Mexican Grill from $60.00 to $56.00 and set an "outperform" rating for the company in a research report on Friday, August 15th. Finally, TD Securities restated a "buy" rating and set a $57.00 price target on shares of Chipotle Mexican Grill in a research report on Wednesday, June 18th. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and eight have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Chipotle Mexican Grill currently has a consensus rating of "Moderate Buy" and a consensus price target of $59.76.

Chipotle Mexican Grill Stock Up 1.7%

Shares of NYSE:CMG traded up $0.67 during midday trading on Tuesday, hitting $39.25. 23,502,586 shares of the stock traded hands, compared to its average volume of 17,213,492. Chipotle Mexican Grill, Inc. has a one year low of $38.30 and a one year high of $66.74. The stock has a market capitalization of $52.63 billion, a PE ratio of 33.84, a P/E/G ratio of 1.96 and a beta of 1.02. The business's 50 day moving average is $45.20 and its two-hundred day moving average is $48.97.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last released its quarterly earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate 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 was up 3.0% on a year-over-year basis. As a group, sell-side analysts forecast that Chipotle Mexican Grill, Inc. will post 1.29 earnings per share for the current year.

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.