• Yesterday, 11:45 AM
    • Chipotle (CMG +0.1%) hires new ad agencies in front of what is expected to be a significant ramping up of marketing spending this year.
    • Venables Bell & Partners will handle creative for the restaurant chain and MullenLowe Mediahub will work the media side, according to AdAge.
    • Chipotle is expected to spend up to 3% of sales on marketing this year in a "normalization" process.
    • The new campaign is due to start in April.
    Yesterday, 11:45 AM | 2 Comments
  • Tue, Jan. 17, 7:50 AM
    • JPMorgan lowers Chipotle (NYSE:CMG) to a Neutral rating from Overweight.
    • The price target on the restaurant stock from JP drops to $375.
    • Shares of Chipotle are down 0.60% to $406.90 in premarket action.
    Tue, Jan. 17, 7:50 AM | 8 Comments
  • Fri, Jan. 13, 2:32 PM
    • Raymond James is still bearish on Chipotle (CMG +0.2%) following the company's sales update and ICR appearance.
    • "We continue to see a sharply negative risk/reward skew as consensus estimates seem overly aggressive and believe the stock’s historical valuation (35x+) will be difficult to recover (growth algorithm from normalized EPS base likely in upper teens). Our bull/bear analysis suggests a negative risk/reward from current levels (downside $225-300; upside $412, in-line with current stock price)," writes the analyst team.
    • Shares of CMG are rated by Raymond James at Underperform.
    Fri, Jan. 13, 2:32 PM | 8 Comments
  • Wed, Jan. 11, 8:04 AM
    • BTIG sticks with a Neutral rating on Chipotle (NYSE:CMG) after taking in the company's ICR presentation and factoring in the pre-announced Q4 results.
    • "We believe management’s 2017 EPS guidance of $10.00, which they consider a stretch goal, leaves no room for error on the sales and margin recovery," reads the note from investment firm.
    • BTIG thinks the launch of TV ads could help drive new guests to the brand, but wants to see more consistent earnings trends before becoming more constructive on the name.
    • CMG +0.13% premarket to $415.00.
    • Previously: Chipotle takes center stage at ICR (Jan. 10)
    Wed, Jan. 11, 8:04 AM | 8 Comments
  • Tue, Jan. 10, 3:21 PM
    • Chipotle (CMG +4.9%) says it sees 2017 EPS of up to $10 vs. $9.06. Some of the upside to EPS will be derived by cutting back on marketing and sticking with cost savings initiatives.
    • Labor inflation of 5% is seen for 2017.
    • Working against a soft period of comparables, Chipotle expects to generate a high single-digit comps this year.
    • Restaurant margins are seen running at right around 20%.
    • Store-level strategies include an introduction of dessert items in the spring and an increased focus on large catering jobs.
    • Shares of Chipotle hit a high of $420.23 today before settling back.
    • Chipotle's ICR presentation webcast
    • Previously: Chipotle issues preliminary Q4 EPS below expectations (Jan. 10)
    • Previously: Chipotle +4.3%, reversing big early loss (Jan. 10)
    • #ICR17
    Tue, Jan. 10, 3:21 PM | 2 Comments
  • Tue, Jan. 10, 9:08 AM
    • Shares had been lower by about 4% in premarket action after the company announced "disappointing" comp sales and EPS guidance for Q4, but Wedbush's Nick Setyan says December comp sales were up 14.7%, implying Q1 could come in ahead of the consensus of 13% - meaning a Q1 EPS beat.
    • Chipotle (NYSE:CMG) also announced a $100M increase to its buyback program, bringing the total to $2.1B, of which $200M remains.
    • SEC Form 8-K
    • The stock's now higher by 4.3%.
    • #ICR17
    Tue, Jan. 10, 9:08 AM | 13 Comments
  • Tue, Jan. 10, 8:00 AM
    • Chipotle (NYSE:CMG) announces that it sees Q4 revenue of $1.035b and Q4 EPS of $0.50-$0.58 vs. $0.96 consensus.
    • Comparable sales are estimated to have dropped 4.8%.
    • A restaurant-level operating margin of 13% to 14% is seen for the quarter.
    • SEC Form 8-K
    • The company is presenting today at the #ICR17 conference.
    • CMG -3.56% premarket to $381.00.
    Tue, Jan. 10, 8:00 AM | 46 Comments
  • Mon, Jan. 9, 1:49 PM
    • There's only light action today on Chipotle (CMG -0.9%) with the company due to present tomorrow at the ICR Conference.
    • Management will be in the spotlight at 1:30 ET tomorrow. It's unlikely that CEO Stev Ells will get in and out of the event without updating on early Q1 trends. Seeking Alpha will provide updates on the Chipotle talk.
    • #ICR17
    Mon, Jan. 9, 1:49 PM
  • Sat, Jan. 7, 11:08 AM
    Sat, Jan. 7, 11:08 AM
  • Sat, Jan. 7, 11:04 AM
    • Retail execs head down to Florida next week for the closely-watched ICR Conference.
    • The confab this year arrives at a tumultous time for the sector. A wave of soft holiday period sales reports have set a negative tone amid increasing worries over Trump administration trades policies and border adjustment taxes.
    • Bloomberg Intelligence analyst Chen Grazutis wants to hear what apparel retailers say about the impact of moving sourcing back to the U.S. On the positive side, some labor wage fear have subsided and inventory levels are better than they were a year ago.
    • It's unlikely that Q&A at ICR won't delve into Amazon (NASDAQ:AMZN) and the ongoing impact of e-commerce on volume and margins.
    • Chipotle's (NYSE:CMG) presentation will be one of the bigger events in the restaurant sector, although investors might need their hard hats on with guidance updates/warnings expected from many food chains. Also keep an eye on how restaurant management talks about local sourcing and the shift toward eating local, trends which could bode well for Sysco (NYSE:SYY) and US Foods (NYSE:USFD), tips Bloomberg Intelligence.
    • ICR presenters: AEO, ANFI, AVP, BGS, BOJA, BOOT, CBRL, CHEF, CORE, CTRN, CVS, DENN, DFRG, DXLG, ELF, EXPR, FIVE, FRAN, FRPT, FTD, GCO, GIII, GPC, HOME, IRBT, JACK, JMBA, KONA, LNDC, LULU, MED, OLLI, OXM, PERY, PLAY, PLCE, PRMW, PRTS, PRTY, RUTH, SHAK, SMRT, SNAK, SODA, SPWH, SQBG, SSI, TACO, TAST, TWNK, UEIC, UNFI, USFD, VNCE, W, WING, WMAR, ZOES.
    • #ICR17
    Sat, Jan. 7, 11:04 AM | 12 Comments
  • Thu, Jan. 5, 8:33 AM
    • Chipotle (NYSE:CMG) shook off one of its bearish calls this morning when Wedbush moved to a Neutral stance from Underperform. The restaurant stock still has seven Wall Street firms with Sell ratings on the books and plenty of SA contributers taking a whack at it.
    • The investment firm's price target of $400 implies 5% upside.
    • Shares of CMG are up 0.82% premarket to $385.00.
    Thu, Jan. 5, 8:33 AM | 5 Comments
  • Tue, Jan. 3, 2:44 PM
    • Restaurant stocks trade weak on some anxiety that preannouncement surprises may pop out in front of the ICR Exchange Conference next week.
    • SunTrust Robinson analyst Jake Bartlett reminds that last year Chipotle (CMG -0.5%), Popeyes Louisiana Kitchen (PLKI -0.7%) and Wingstop (WING -0.5%) all preannounced right in front of ICR.
    • Leading decliners on the day include Jack in the Box (JACK -3.5%), Red Robin Gourmet Burgers (RRGB -3.3%), Carrols Restaurant Group (TAST -2.6%), Buffalo Wild Wings (BWLD -2.6%) and BJ's Restaurants (BJRI -2.8%).
    • More than 25 restaurant companies are due to present at ICR on January 10-11.
    • Related ETF: MENU.
    Tue, Jan. 3, 2:44 PM | 3 Comments
  • Mon, Jan. 2, 6:36 AM
    • Goldman notes that retail stocks account for a third of January guidance updates, often under-represented in options pricing.
    • Analysts identify five retailers likely to be more volatile in Jan. which are underpriced by options:
    • CMG: buy straddles for ICR Xchange (Jan. 9-11) conference and earnings.
    • DPZ: buy calls to capture cold winter and analyst day at ICR.
    • EAT: buy straddles for ICR - shares moved +8% in 2016.
    • LULU: buy straddles for ICR - mgmt. has preannounced in the previous six years.
    • TIF: buy straddles for outlook call on Jan. 17. This catalyst has moved shares +/-8% for the past six years.
    Mon, Jan. 2, 6:36 AM | 5 Comments
  • Dec. 30, 2016, 7:11 AM
    • As a sector, healthcare stocks led the stinkers, taking up 11 of the top 25 spots among S&P 500 stocks with the worst YTD performance going into 2016's final day of trading.
    • Endo International plc (NASDAQ:ENDP) -74.39%
    • First Solar, Inc. (NASDAQ:FSLR) -50.64%
    • TripAdvisor, Inc. (NASDAQ:TRIP) -44.93%
    • Perrigo Company plc (NASDAQ:PRGO) -42.78%
    • Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) -40.84%
    • Under Armour, Inc. (NYSE:UA) -37.68%
    • Stericycle, Inc. (NASDAQ:SRCL) -36.27%
    • Alexion Pharmaceuticals, Inc. (NASDAQ:ALXN) -35.19%
    • Allergan plc (NYSE:AGN) -33.69%
    • Mallinckrodt Public Limited Company (NYSE:MNK) -33.66%
    • Illumina, Inc. (NASDAQ:ILMN) -32.94%
    • Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) -31.16%
    • Mylan N.V. (NASDAQ:MYL) -30.87%
    • Fossil Group, Inc. (NASDAQ:FOSL) -29.54%
    • H&R Block, Inc. (NYSE:HRB) -27.70%
    • McKesson Corporation (NYSE:MCK) -27.62%
    • Gilead Sciences Inc. (NASDAQ:GILD) -27.07%
    • L Brands, Inc. (NYSE:LB) -26.73%
    • Hanesbrands Inc. (NYSE:HBI) -25.17%
    • Signet Jewelers Limited (NYSE:SIG) -23.26%
    • Pitney Bowes Inc. (NYSE:PBI) -22.35%
    • AmerisourceBergen Corporation (NYSE:ABC) -22.19%
    • Legg Mason, Inc. (NYSE:LM) -22.09%
    • Chipotle Mexican Grill, Inc. (NYSE:CMG) -21.52%
    • Frontier Communications Corporation (NYSE:FTR) -21.04%
    Dec. 30, 2016, 7:11 AM | 87 Comments
  • Dec. 16, 2016, 11:41 AM
    • Chipotle (CMG +2.2%) names four new members to its board.
    • Paul Cappuccio (Time Warner exec), Robin Hickenlooper (Liberty Global), Ali Namvar (Pershing Square) and Matthew Paull (Pershing Square, ex-McDonald's) are the new additions to the board and will serve through the 2017 annual meeting.
    • “We are pleased that Chipotle has taken the important step of refreshing its Board which will position the company for continued growth and long-term success," says Pershing Square's Bill Ackman.
    • Pershing and Chipotle have agreed to some provisions in light of the board selections.
    • Source: Press Release
    Dec. 16, 2016, 11:41 AM | 24 Comments
  • Dec. 13, 2016, 11:25 AM
    • Chipotle (CMG -1.4%) is on the radar of analysts and shareholders after the company reset strategy yesterday.
    • During a conference call late yesterday, Chipotle CEO Steve Ellis said the running of the company's restaurants has become too complicated. The hiring of a new COO is expected to help set the chain back on the right path.
    • Shareholder CtW Investment Group sent out a warning shot to Pershing Square Capital Morning (~10% CMG holder) this morning.
    • "Replacing two or more incumbent directors with diverse candidates experienced in effective human capital management should be the highest immediate priority for the company," said CtW executive director Dieter Waizenegger.
    • The view from Wall Street on Chipotle shifting away from the dual CEO model is mixed. Deutsche Bank doesn't see a timely turnaround for the restaurant chain, while Nomura ses a clear pivot from food safety to operations. Bullish-leaning SunTrust thinks Chipotle can improve its through-put (line speed) and customer satisfaction ratings under the new structure.
    • On Seeking Alpha, Mitch Dol weighs in. "No doubt Chipotle is going through a temporary problem, and I'm betting it will recover to become one of the world's great restaurant chains," he writes.
    • Sources: Bloomberg and Reuters
    • Previously: Chipotle names Ellis sole CEO (Dec. 12)
    • Previously: Chipotle founder plans to make it simple again (Dec. 12)
    Dec. 13, 2016, 11:25 AM | 39 Comments