Prime Capital Investment Advisors LLC Reduces Position in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Prime Capital Investment Advisors LLC reduced its position in Chipotle Mexican Grill by 14.5% during the second quarter, now holding 37,063 shares worth approximately $2.08 million.
• Institutional investors hold 91.30% of Chipotle's stock, with various funds modifying their positions, including Charles Schwab Investment Management increasing its stake by 5.8%.
• Chipotle's recent earnings report showed a net margin of 13.32% and it beat analysts’ EPS expectations, but revenues fell short of predictions.

Prime Capital Investment Advisors LLC trimmed its holdings in shares of Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 14.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 37,063 shares of the restaurant operator's stock after selling 6,297 shares during the quarter. Prime Capital Investment Advisors LLC's holdings in Chipotle Mexican Grill were worth $2,081,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. increased its position in shares of Chipotle Mexican Grill by 5.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 8,979,637 shares of the restaurant operator's stock worth $450,868,000 after acquiring an additional 491,002 shares during the last quarter. Corient IA LLC acquired a new position in Chipotle Mexican Grill in the first quarter worth about $753,000. Advisors Asset Management Inc. grew its stake in Chipotle Mexican Grill by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 75,368 shares of the restaurant operator's stock worth $3,784,000 after purchasing an additional 18,458 shares in the last quarter. Hilltop National Bank acquired a new position in Chipotle Mexican Grill in the second quarter worth about $2,579,000. Finally, Banco Santander S.A. grew its stake in Chipotle Mexican Grill by 47.6% in the first quarter. Banco Santander S.A. now owns 31,764 shares of the restaurant operator's stock worth $1,595,000 after purchasing an additional 10,246 shares in the last quarter. 91.30% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CMG has been the subject of a number of research reports. Redburn Atlantic initiated coverage on Chipotle Mexican Grill in a research note on Tuesday, June 10th. They issued a "neutral" rating and a $55.00 price target for the company. Barclays decreased their price target on 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. Melius assumed coverage on Chipotle Mexican Grill in a research note on Monday, July 14th. They issued a "hold" rating and a $60.00 price target for the company. Sanford C. Bernstein decreased their target price on Chipotle Mexican Grill from $65.00 to $60.00 and set an "outperform" rating for the company in a research note on Thursday, October 2nd. Finally, Guggenheim decreased their target price on 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. Two analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $59.28.

Chipotle Mexican Grill Stock Down 1.7%

Shares of CMG stock opened at $40.94 on Wednesday. The business has a 50 day moving average of $41.33 and a two-hundred day moving average of $47.83. The company has a market cap of $54.89 billion, a P/E ratio of 36.55, a PEG ratio of 2.12 and a beta of 0.99. Chipotle Mexican Grill, Inc. has a 52 week low of $38.30 and a 52 week high of $66.74.

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 for the quarter, beating analysts' consensus estimates of $0.32 by $0.01. The company had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.11 billion. Chipotle Mexican Grill had a return on equity of 43.50% and a net margin of 13.32%.The business's revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. Analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current fiscal 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.

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