Oppenheimer Asset Management acquired 84,954 shares of Chipotle Mexican Grill during the second quarter. The new position is valued at approximately $2.9 million. Institutional investors currently hold 91.3% of the company's total shares.
Chipotle launched its first restaurant in Riyadh, Saudi Arabia, with franchise partner Alshaya Group. Second-quarter revenue rose 9.3%. Total revenue reached $3.3 billion. Management also increased the full-year outlook for comparable-store sales.
The stock has faced recent price softness despite these growth indicators. Analysts maintain a consensus Moderate Buy rating. The average price target for the stock is $44.16.