The former Dawson's Creek star has rarely been seen in public since giving birth to daughter Suri on April 18.
And one of the couple's neighbors tells Us Weekly magazine, "I heard from a lot of people that Katie is pregnant."
She immediately hit back at the reports, telling the magazine, "I am not pregnant again."
During the star's outing in Colorado, she was accompanied by a girlfriend and was seen window shopping and sipping a coffee.
Holmes once again did not have her new baby with her, much to the dismay of onlookers.
She told the assembled crowd, "Suri's doing great! She's back at the house."
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