Seeking Alpha

Chipotle Mexican Grill, Inc. (CMG)

  • 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!
  • 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!
  • 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
  • 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!
  • Tue, Oct. 20, 5:40 PM
    | Tue, Oct. 20, 5:40 PM | Comment!
  • Tue, Aug. 18, 3:09 PM
    • Restaurant companies banking on high-growth concepts are trading lower than market averages today.
    • Sentiment is poor on Zoe's Kitchen (ZOES -6.9%), El Pollo Loco (LOCO -3%), Bojangles (BOJA -2.9%), Chuy's Holdings (CHUY -2%), Noodles (NDLS -2.1%), Panera Bread (PNRA -3%), and Restaurant Brands International (QSR -1.9%). Even fast-casual superstar Chipotle (CMG -1%) is a bit weak.
    • Restaurant traffic fell 1.2% in July on a comparable-store basis, according to Black Box Intelligence.
    • McDonald's which is dialing back moderately the number of U.S. stores it operates is moving the other direction.
    • Previously: McDonald's at 13-month high on turnaround hopes (Aug. 18 2015)
    | Tue, Aug. 18, 3:09 PM | 2 Comments
  • Wed, Jul. 22, 10:42 AM
    • Buyers of Chipotle (CMG +7.2%) during the after-hours session just after the company released Q2 numbers are now up ~16% off a striking turnaround.
    • Shares of Chipotle jumped to another all-time high despite the Q2 report which showed comparable-store sales growth decelerating to 4.3% from 17.3% a year ago.
    • Wall Street bullishness and a calm response from management on the earnings call appear to be behind the rally.
    • Previously: Chipotle talks menu prices, wages, and buybacks (Jul. 21 2015)
    • Previously: Chipotle +2.4% in post-earnings turn (Jul. 22 2015)
    | Wed, Jul. 22, 10:42 AM | 21 Comments
  • Tue, Jul. 21, 4:18 PM
    • Chipotle (CMG +0.9%) reports comparable-store sales rose 4.3% in Q2 vs. +10.4% in Q1 and +17.3% a year ago.
    • The company had guided for a low to mid single-digit rise in comps.
    • Higher menu prices were a larger factor again during the quarter more than traffic growth.
    • Restaurant level operating margin +70 bps Y/Y to 28.0%.
    • Food cost ratio -150 bps to 33.1% as price hikes and lower dairy and avocado prices factored in.
    • Store count +47 net Q/Q to 1,878.
    • Guidance: Chipotle's comp growth outlook for 2015 is for a low to mid-single digit rate increase. 190 to 205 new store openings expected.
    • CMG-4.94% to $643.05 after hours.
    | Tue, Jul. 21, 4:18 PM | 2 Comments
  • Fri, May 1, 9:04 AM
    • BMO Capital upgrades Chipotle (NYSE:CMG) to an Outperform rating after having a Neutral stance on the high-flyer.
    • The investment firm's updated price target of $760 accounts for a new runway of growth it sees for the restaurant chain and the potential for cash to be returned to shareholders.
    • BMO notes a deceleration in Chipotle's comp growth off the high teens marks of 2014 is widely expected and shouldn't create a disruption.
    • CMG +0.8% premarket to $626.05.
    | Fri, May 1, 9:04 AM | Comment!
  • Wed, Apr. 29, 1:22 PM
    • Restaurants stocks are falling harder than broad market averages with disappointing reports from Buffalo Wild Wings and Panera Bread raising some concerns.
    • Increasing labor and commodity costs are seen as a threat to margins across the group.
    • Today's GDP report may also be a factor in the sector falling out of favor for the day.
    • Decliners include Denny's (DENN -7%), Krispy Kreme Dougnuts (KKD -5.6%), Red Robin Gourmet Burgers (RRGB -5.9%), Kona Grill (KONA -6.6%), Texas Roadhouse (TXRH -5.9%), Jack in the Box (JACK -4.6%), Bloomin' Brands (BLMN -4.7%), El Pollo Loco (LOCO -4.6%), and Cracker Barrel (CBRL -4.8%).
    • Even momentum-fueled Chipotle (CMG -1.7%) and Habit Restaurants (HABT -1.7%) are peeling off some gains, while Shake Shack (NYSE:SHAK) is proving harder to knock down and is +0.2% on the day.
    • Previously: Panera Bread -2% after sluggish earnings print (April 28)
    • Previously: Buffalo Wild Wings slumps with chicken wing and labor costs a concern (April 28)
    | Wed, Apr. 29, 1:22 PM | 3 Comments
  • Wed, Apr. 22, 9:15 AM
    | Wed, Apr. 22, 9:15 AM | Comment!
  • Wed, Apr. 22, 9:08 AM
    • Investment firms are weighing in on Chipotle (NYSE:CMG) following the company's Q1 report and 2015 guidance.
    • Raymond James downgrades shares of the restaurant operator to Market Perform from Outperform.
    • Credit Suisse takes its price target down to $770 from $785, while keeping the company rated at Outperform.
    • Sterne Agee holds tight with a Buy rating and $766 price target.
    • Previously: Chipotle -4.7% as comp growth slows (Apr. 21 2015)
    • Previously: Chipotle tips new price hikes during earnings call (Apr. 21 2015)
    • CMG -5.41% premarket to $655.06.
    | Wed, Apr. 22, 9:08 AM | 1 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