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Chipotle Mexican Grill, Inc. (CMG)

  • Tue, Nov. 24, 9:07 AM
    • BMO Capital warns of a slump in Chipotle's (NYSE:CMG) share price even though it forecasts only a short-time impact on traffic from the E. coli scare.
    • "Recognizing the uncertainties, however, we derive 10% downside to CMG’s stock to $475 in a low-case scenario," reads the note from analyst Andrew Srelzik.
    • Telsey Advisory Group upgraded shares to Outperform after watching Chipotle fall back. The investment firm still expects a positive Q4 comp unless the outbreak broadens.
    • Maxim Group takes a more bearish view, forecasting a traffic impact over a few quarters due to hit to the brand's reputation. "We now expect that the outbreak could reduce comps by as much as 330 basis points in 4Q15, 120 basis points in 1Q16 and 40 basis points in 2Q16," writes analyst Stephen Anderson.
    • Current CMG scorecard from Wall Street firms: 19 Buy ratings, 10 Hold ratings, 1 Sell rating (from BAML).
    • CMG -0.33% premarket to $557.39. Shares are down roughly 15% since the first report of E. coli linked to the chain's stores.
    | Tue, Nov. 24, 9:07 AM | 1 Comment
  • Mon, Nov. 23, 7:34 AM
    • Shares of Chipotle (NYSE:CMG) are on watch as the impact on the spread of the E. coli outbreak to the restaurants in high-population states California, New York, and Ohio is digested.
    • Several restaurant sector analysts have reset expectations for Q4 same-store sales due to the E. coli issue, while keeping a bullish long-term view.
    • On Seeking Alpha, L&F Capital Management tabulates that shares of Chipotle are worth $475. Shares of CMG fell 12.51% to $534.99 on Friday. Earlier this year, Chipotle peaked at $758.61.
    | Mon, Nov. 23, 7:34 AM | 1 Comment
  • Fri, Nov. 20, 3:01 PM
    • Chipotle (NYSE:CMG) dives after the CDC reports on more E. coli cases linked to the restaurant chain.
    • The agency says 45 people across six different states have been infected. California, Minnesota, New York, and Ohio have been added to the original list of states with an outbreak.
    • CMG -8.87% to $557.27.
    | Fri, Nov. 20, 3:01 PM | 85 Comments
  • Tue, Nov. 10, 9:12 AM
    • Chipotle (NYSE:CMG) is up 2% in early trading after officially announcing it will reopen 43 restaurants in the Pacific Northwest.
    • "Health officials have concluded that there is no ongoing risk from this incident," reads the Chipotle statement.
    • Previously: Chipotle eateries could reopen after outbreak (Nov. 10 2015)
    | Tue, Nov. 10, 9:12 AM | Comment!
  • Tue, Nov. 10, 7:13 AM
    • Restaurant workers in more than 270 cities plan to strike today in one of the most organized labor events in the fast-food sector.
    • The walkout aimed at raising the federal minimum wage to $15 is timed exactly one year from the national election. Most GOP candidates oppose an increase in the $7.25/hr minimum wage, while the Democrat candidates support popping the minimum wage up to a $12/hr to $15/hr range.
    • An increase in the minimum wage could have a ripple effect outside of just fast-food chains.
    | Tue, Nov. 10, 7:13 AM | 99 Comments
  • Tue, Nov. 10, 2:34 AM
    • Chipotle (NYSE:CMG) could reopen locations in Washington state and Oregon as soon as Wednesday after a batch of tests found no E. coli bacteria in food samples.
    • Investigations do not always identify a specific food source as the culprit, because contaminated food is at times consumed before the samples are collected.
    • All of Chipotle's 43 outlets in those areas, which appear to have sickened 43 people, have been closed since Oct. 31.
    • Previously: Updates on the Chipotle E. coli outbreak (Nov. 04 2015)
    | Tue, Nov. 10, 2:34 AM | 2 Comments
  • Mon, Nov. 9, 1:15 PM
    | Mon, Nov. 9, 1:15 PM | 23 Comments
  • Fri, Nov. 6, 8:25 AM
    • Chipotle (NYSE:CMG) is lower in early trading after Baird chips away with a downgrade on the restaurant stock to Neutral from Outperform.
    • Hedgeye also lowered estimates on the restaurant stock to below the Street consensus. Analysts Howard Penney says shares could trade at a discount to McDonald's at some point.
    • Baird lowers its price target on Chipotle to $675 from $850 (still plenty of upside).
    • CMG -1.39% premarket to $608.00.
    | Fri, Nov. 6, 8:25 AM | 5 Comments
  • Thu, Nov. 5, 2:11 PM
    • The restaurant sector is having a rough earnings season in general. Noodles (NDLS -11%) and Papa John's (PZZA -3.7%) were two of the latest to disappoint, after Buffalo Wild Wings (BWLD -1.2%) and Chipotle (CMG -0.3%) set a negative tone last week.
    • Shares of Popeyes Louisiana Kitchen (PLKI -7.7%) trade at their lowest level of the year. The company reports earnings on November 11. Analysts expect revenue of $61M and EPS of $0.44.
    • Other leading decliners today include Jack in the Box (JACK -4.3%), Chuy's Holdings (CHUY -4.5%), Texas Roadhouse (TXRH -4%), and Sonic (SONC -2.9%).
    • Many of the names have been trading off due to labor wage pressure and lower Q3 traffic than anticipated.
    • A surprising outlier in the sector has been McDonald's (MCD +0.2%) which has doubled up the return of the S&P 500 over the last month. Habit Restaurants (HABT +8.2%) is also in rally mode following earnings.
    | Thu, Nov. 5, 2:11 PM | 7 Comments
  • Wed, Nov. 4, 2:11 PM
    • Shares of Chipotle (CMG -1.1%) remain under pressure as analysts nip at same-restaurant sales growth estimates due to an expectation of reduced traffic. Maxim Group is now factoring in a negative 75 bp impact in Q4 from the E. coli incident and 25 bps for Q1 of 2016. Other estimates have ranged as high as a full percentage point comp loss for the current quarter. During the company's earnings call two weeks ago (pre-E. coli) oubreak, management warned of a "choppy" start for Q4 sales.
    • Health officials in Oregon and Washington are expected to issue an update later today on the E. coli outbreak. Fresh produce purchased by Chipotle is the likely source of the contamination.
    • Previously: Updates on the Chipotle E. coli outbreak (Nov. 4)
    • Previously: Chipotle tips sluggish start to Q4 (Oct. 21)
    | Wed, Nov. 4, 2:11 PM | Comment!
  • Wed, Nov. 4, 4:15 AM
    | Wed, Nov. 4, 4:15 AM | 3 Comments
  • Mon, Nov. 2, 1:31 PM
    • Chipotle (NYSE:CMG) could see a negative 60 bps impact to Q4 comparable-store sales growth, according to a rough estimate from Bernstein.
    • The stores closed due to an E. coli outbreak account for 2% of all Chipotle's store base.
    • The public health department of Oregon and Washington haven't updated their tally of E. coli cases since Saturday. Off the record, local officials have stated that the outbreak appears contained.
    • Shares of CMG are down 1.7% on the day, but sit at session highs.
    • Previously: Chipotle shuts 43 restaurants amid E.Coli fears (Nov. 01 2015)
    • Previously: Chipotle -5% after E. coli outbreak forces store closings (Nov. 02 2015)
    | Mon, Nov. 2, 1:31 PM | 10 Comments
  • Mon, Nov. 2, 8:17 AM
    • Shares of Chipotle (NYSE:CMG) are weak in early trading after the company shuts down 43 restaurants in the Pacific Northwest due to a health risk tied to E. coli. A contamination of fresh produce products from a local supplier is suspected.
    • The number of reported cases is expected to be updated today by health officials.
    • Previously: Chipotle shuts 43 restaurants amid E.Coli fears (Nov. 01 2015)
    • CMG -4.56% to $611.00 to mark the lowest level for shares since early July.
    | Mon, Nov. 2, 8:17 AM | 4 Comments
  • Sun, Nov. 1, 10:41 AM
    • Health officials are investigating an outbreak among people who became ill with E. coli after eating at Chipotle (NYSE:CMG) restaurants over the past two weeks in the Portland Metro area and several counties in Washington State.
    • As of October 31, there were three cases in Oregon and at least 19 in Washington. Chipotle has now shut 43 restaurants in the affected areas, and will work with authorities to determine when to reopen them.
    | Sun, Nov. 1, 10:41 AM | 60 Comments
  • Wed, Oct. 21, 9:15 AM
    | Wed, Oct. 21, 9:15 AM | 3 Comments
  • Wed, Oct. 21, 8:23 AM
    • Execs with Chipotle (NYSE:CMG) warned during yesterday's earnings call that sales results in Q4 are "choppy" for the first few weeks of October.
    • Comparable-store sales are trending slightly below the 2.6% comp that Chipotle reported for Q3.
    • Overall sales were boosted in Q3 by a targeted menu increase on steak and barbacoa.
    • Chipotle continues to keep a tight lid on marketing costs. The restaurant chain forecasts marketing expenses will be 1.5% to 1.6% of sales in 2016.
    • Management concedes that it may have taken its eyes off the critical lunchtime throughput rate (rate of customers through lines) this year after running intense contests a year ago. Some restaurant analysts think many Chipotle stores have hit their peak throughput rates for lunch.
    • Chipotle earnings call transcript
    • Previously: Comp sales growth falls below 3% at Chipotle (Oct. 20 2015)
    • Previously: Chipotle Mexican Grill misses by $0.04, revenue in-line (Oct. 20 2015)
    • CMG -6.87% premarket to $657.14.
    | Wed, Oct. 21, 8:23 AM | Comment!
Company Description
Chipotle Mexican Grill Inc operates Chipotle Mexican Grill restaurants, which serves a menu of burritos, tacos, burrito bowls (a burrito without the tortilla) and salads, made using fresh ingredients.
Sector: Services
Industry: Restaurants
Country: United States