Sitrin Capital Management LLC Cuts Holdings in Chipotle Mexican Grill, Inc. $CMG

Key Points

• Sitrin Capital Management LLC decreased its holdings in Chipotle Mexican Grill, Inc. by 9.2% in the 2nd quarter, now holding 68,393 shares valued at approximately $3.84 million.
• Despite Sitrin's reduction, several other investors, including Revolve Wealth Partners LLC and Bison Wealth LLC, increased their positions in Chipotle, indicating mixed sentiment among institutional investors.
• Analyst ratings for Chipotle vary, with Evercore ISI reducing its price target while UBS Group raised theirs, reflecting diverse perspectives on the stock's future performance.

Sitrin Capital Management LLC reduced its position in Chipotle Mexican Grill, Inc. (NYSE:CMG - Free Report) by 9.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 68,393 shares of the restaurant operator's stock after selling 6,921 shares during the quarter. Chipotle Mexican Grill comprises about 2.0% of Sitrin Capital Management LLC's investment portfolio, making the stock its 29th biggest position. Sitrin Capital Management LLC's holdings in Chipotle Mexican Grill were worth $3,840,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in CMG. Revolve Wealth Partners LLC raised its position in shares of Chipotle Mexican Grill by 4.7% in the 4th quarter. Revolve Wealth Partners LLC now owns 4,804 shares of the restaurant operator's stock worth $290,000 after buying an additional 214 shares during the period. Bison Wealth LLC purchased a new position in shares of Chipotle Mexican Grill in the 4th quarter worth $224,000. NBC Securities Inc. raised its position in Chipotle Mexican Grill by 137,000.0% in the first quarter. NBC Securities Inc. now owns 1,371 shares of the restaurant operator's stock valued at $68,000 after purchasing an additional 1,370 shares during the period. Park Avenue Securities LLC raised its position in Chipotle Mexican Grill by 29.3% in the first quarter. Park Avenue Securities LLC now owns 41,980 shares of the restaurant operator's stock valued at $2,108,000 after purchasing an additional 9,508 shares during the period. Finally, Wesbanco Bank Inc. raised its position in Chipotle Mexican Grill by 43.0% in the first quarter. Wesbanco Bank Inc. now owns 7,009 shares of the restaurant operator's stock valued at $352,000 after purchasing an additional 2,109 shares during the period. 91.30% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on the company. Evercore ISI cut their price objective on Chipotle Mexican Grill from $57.00 to $53.00 and set an "outperform" rating on the stock in a research report on Tuesday. Rothschild Redb raised Chipotle Mexican Grill from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, September 3rd. TD Cowen reissued a "buy" rating and issued a $58.00 price objective on shares of Chipotle Mexican Grill in a research report on Friday, September 19th. Weiss Ratings reissued a "hold (c)" rating on shares of Chipotle Mexican Grill in a research report on Wednesday. Finally, UBS Group raised their price objective on Chipotle Mexican Grill from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $59.28.

Chipotle Mexican Grill Price Performance

Shares of NYSE:CMG opened at $41.00 on Thursday. Chipotle Mexican Grill, Inc. has a 12 month low of $38.30 and a 12 month high of $66.74. The stock has a market cap of $54.98 billion, a price-to-earnings ratio of 36.61, a PEG ratio of 2.09 and a beta of 0.99. The stock's 50 day moving average price is $41.28 and its 200 day moving average price is $47.78.

Chipotle Mexican Grill (NYSE:CMG - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The restaurant operator reported $0.33 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $3.06 billion for the quarter, compared to analysts' expectations of $3.11 billion. During the same quarter in the previous year, the company earned $0.34 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. On average, sell-side analysts expect that Chipotle Mexican Grill, Inc. will post 1.29 EPS for the current year.

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.