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Chipotle Mexican Grill, Inc.

5/24/2013, 4:12 AM ET

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Friday, May 17, 6:54 AM Retail watch: Chipotle (CMG), J.C. Penney (JCP), and Macy's (M) all hold their annual shareholder meeting today with each company expected to outline channels to find new growth. The trio could also use their meeting to back earnings guidance or tip off current sales trends. Comment! [Consumer]
Wednesday, May 8, 7:58 PM Chipotle (CMG) dips in the post session, giving back most of the day's gains after hedge fund manager Jeff Gundlach repeated his short thesis on the company during his presentation today at the Ira Sohn Conference. “All you need to compete with CMG’s core business is a taco truck,” he quips. In fact, Gundlach takes it a step further, saying he's not interested in virtually "anything related to middle-class consumer discretionary income.” 8 Comments [Consumer]
Monday, May 6, 1:07 PM This week a number of high-profile investment managers will gather at the Ira Sohn Investment Conference in NYC. What to watch: 1) Shares of Lululemon (LULU -2%) are already a bit skittish as rumors up crop up that a short seller will present his or her thesis on the retailer. 2) Bill Ackman is expected to give a lift to J.C. Penney (JCP -0.9%) and back the recent moves by the company. 3) David Einhorn will have to revisit Chiptole (CMG +1.7%) after shares rose ~30% since his attempted "nosebleed valuation" takedown of the restaurant operator. Will Einhorn double-down on his short bet? 3 Comments [Consumer]
Wednesday, April 24, 6:43 AM More on Yum Brands (YUM) (previous: I, II): With all the focus on China this year, it's almost lost in the shuffle that Yum Brands (YUM) operates more than a couple of KFC and Taco Bell restaurants in the U.S. where performance in Q1 came in strong. Same-store sales grew 2% to beat the pace of many rivals, while the company improved its operating margin by 4 percentage points to 23.7% due to sales leverage at Taco Bell. Though its painful for some Chipotle (CMG) loyalists to admit, the refreshed menu at Taco Bell is helping the chain make strides. YUM +3.7% premarket. 3 Comments [Consumer, Earnings, On the Move]
Friday, April 19, 1:49 PM Deutsche Bank adds to the positive sell-side calls on Chipotle Mexican Grill (CMG +10.6%), raising its price target to $345 from $330. Deutsche says CMG's Q1 margins were a "solid beat" but notes that the company seemed "more hesitant about raising prices" on this quarter's call, as management is apparently concerned with the "choppy macro" environment. DB's commentary is less sanguine than that of Credit Suisse and Northcoast which may explain why DB's new price target is the lowest of the group. 1 Comment [Consumer, On the Move]
Friday, April 19, 1:09 PM Midday top 10 gainers: VRTX +60%. NETE +33%. RH +21%. MCOX +18%. OSTK +17%. HWAY +17%. NVDQ +16%. ANAC +12%. LIVE +11%. CMG +10%.
Midday top 10 losers: ACTG -25%. VIMC -15%. PRGX -14%. AIRM -14%. NSIT -12%. CNIT -11%. RMBS -10%. CRME -10%. DIT -9%. OSH -9%. 1 Comment [On the Move]
Friday, April 19, 10:11 AM Credit Suisse raises its price target on Chipotle Mexican Grill (CMG +7.6%) after the company announced Q1 earnings Thursday. Comps growth of 1% Y/Y demonstrated that the company "weathered headwinds better than some had feared," and "excluding all the noise" comps on a one- and two-year basis "remain stable" showing the consumer "remains in the sluggish but stable trajectory." In a separate report, Northcoast Research upgrades the shares to Buy from Neutral. Price targets are now $360 for CS and $400 for NR. 1 Comment [Consumer, On the Move]
Thursday, April 18, 4:54 PM More on Chipotle Mexican Grill (CMG) Q1 earnings: Comparable restaurant sales growth of 1% Y/Y was hurt by fewer trading days this year. Operating margin of 26.3% off 110 bps from a year ago. Food costs at 33% of revenue up 80 bps. Opened 48 restaurants during Q1. Management expects 165-180 new restaurant openings for all 2013 and flat-low single digit comparable sales. Earnings call started at 4:30 ET. Shares +5.7% AH. (PR) 5 Comments [Earnings, Financials, On the Move]
Thursday, April 18, 4:05 PM Chipotle Mexican Grill (CMG): Q1 EPS of $2.45 beats by $0.31. Revenue of $726.8M (+13.4% Y/Y) beats by $2.55M. (PR) Comment! [Earnings, Breaking News]
Thursday, April 18, 12:10 AM Notable earnings after Thursday’s close: ACTG, ALGN, AMD, BGS, CBST, CE, CMG, COF, CPHD, ETFC, GOOG, IBM, ISRG, LSCC, MSFT, RMBS, VMI, WIT Comment! [Earnings]
Wednesday, April 17, 5:35 PM Notable earnings after Thursday’s close: ACTG, ALGN, AMD, BGS, CBST, CE, CMG, COF, CPHD, ETFC, GOOG, IBM, ISRG, LSCC, MSFT, RMBS, VMI, WIT Comment! [Earnings]
Monday, April 15, 9:39 AM Chipotle (CMG +2.1%) opens up trading higher after Webush upgrades shares to Outperform from Neutral and takes its price target up by 25% to $400. The firm thinks catering is a winner for the restaurant operator and pricing will be strong in H2. Comment! [Consumer]
Friday, April 12, 9:51 AM Restaurant sales trends improved in March but remain "fragile," according to a new report from Black Box Intelligence. The sector saw a same-store sales increase of 0.5% during the month compared to February’s decline of 5% - while traffic decreased 2% compared to a 4.2% drop in February. Comment! [Consumer]
Thursday, April 11, 1:28 PM Shares of Chipotle (CMG -2.2%) move lower after Jeffrey Gundlach calls the restaurant operator a "good short" idea and ITG Majestic says March sales are running below consensus. Comment! [Consumer, On the Move]
Wednesday, April 10, 2:17 PM Restaurant visits by parties of adults grew by 1% last year to end four consecutive declines in the category but visits with children in tow showed flat growth once again, according to tracking from the NPD Group. A tripping point for the sector has been the lack of growth in visits by parties with kids. What to watch: Analysts see increased promotional activity sneaking in on the industry's margins. 5 Comments [Consumer]
Thursday, April 4, 9:41 AM Goldman Sachs thinks Chipotle (CMG +0.6%) might be losing its "cool factor" as fewer younger diners recommend the chain. The firm has the restaurant stock slotted at Neutral with a $310 price target. 1 Comment

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