CMG

Chipotle Mexican Grill’s new TikTok critic has some investors worried. Chipotle partnered with TikTok food reviewer Keith Lee last year over a so-called ordering hack he popularized. But Lee last week posted a video in which he slammed the fast-casual chain for what he viewed as small portion sizes and lacking flavor. That post went viral, garnering over 14M views, prompting some investor concern about backlash. Wedbush analysts Nick Setyan and Michael Symington note the worries and say their checks suggest there hasn’t been a major effect on sales and traffic. Investor concerns follow recent internet-fueled backlash at Planet Fitness and Bud Light.

Chipotle Mexican Grill (CMG) investors should be pleased with the Q1 results as it is expected to be among the strongest in the restaurant industry, Deutsche Bank said in a note Thursday. The company surpassed expectations with increased customer traffic driving strong same-store sales and improved restaurant-level margins, the note added. The company increased its full-year sales guidance due to continued momentum in April, Deutsche Bank said. The firms said Chipotle’s innovation and marketing plans combined with increased efforts on personalized offerings will support multi-year benefits. Deutsche Bank reiterated its buy rating on the company’s stock with a price target of $3,600. Chipotle shares were up 6% in recent trading.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We lift our 12-month target to $3,700 from $2,930, 66.0x our 2024 EPS, a premium to CMG’s five-year average forward P/E, reflecting CMG’s outsized growth relative to peers. We raise our 2024 EPS to $56.04 from $54.12 and 2025’s to $66.35 from $65.10. CMG posted Q1 adj-EPS of $13.37, $1.69 above consensus. Revenue of $2,702M (+14.1% Y/Y) was $31M above consensus. Operating income rose 20.0% Y/Y to $441M vs. the $412M consensus, with the margin widening 80 bps Y/Y to 16.3%. Comp sales rose 7.0% vs. the 5.3% consensus, driven by transactions growth (~5.5%) and higher menu pricing (~2.8%), partially offset by negative mix and check. CMG raised its 2024 comp sales guidance to the mid- to high-single-digit range as staffing, scheduling, and execution of its “four

Wedbush analyst Nick Setyan maintains Chipotle Mexican Grill with a Neutral and raises the price target from $2400 to $2850.

By Sabela Ojea Chipotle Mexican Grill said it plans to do a 50-for-1 stock split to make its shares more accessible to employees and a broader range of investors. The restaurant chain said its board approved the first stock split in its 30-year history. The company will seek shareholder approval for the split at its annual meeting on June 6. The company’s stock closed Tuesday at $2,797.56, up 22% since the beginning of the year and 74% over the past 12 months. Should the stock split get approved, the stock would trade around $56, based on the closing price Tuesday. The company currently has about 27.4 million shares outstanding. If the split gets approved, shareholders would receive 49 additional shares for each share held, to be distributed after the market close on June 25. Chipotle’s shares are expected to trade on a post-split basis starting on June 26, the company

Chipotle Mexican Grill, Inc. (NYSE: CMG) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/20/2024 -99.65% Barclays $8 → $9 Maintains Underweight 02/07/2024 -3.79% Morgan Stanley $2284 → $2500 Maintains Equal-Weight 02/07/2024 3.91% Stifel $2560 → $2700 Maintains Buy 02/07/2024 12.37% Truist Securities $2700 → $2920 Maintains Buy 02/07/2024 -7.64% Barclays $2246 → $2400 Maintains Equal-Weight 02/07/2024 11.6% TD Cowen $2650 → $2900 Maintains Outperform 02/07/2024 5.83% Keybanc $2250 → $2750 Maintains Overweight 02/07/2024 16.07% Citigroup $2699 → $3016 Maintains Buy 02/07/2024 -7.64% Wedbush → $2400 Reiterates Neutral → Neutral 02/07/2024 15.45% Stephens & Co. $2800 → $3000 Maintains Overweight 02/07/2024 -7.64% BMO Capital $2100 → $2400 Maintains Market Perform 02/07/2024 7.75% Wells Fargo $2600 → $2800 Maintains Overweight 02/02/2024 -1.48% Stifel $2450 → $2560 Maintains Buy 01/25/2024 -1.87% Raymond James $2450 → $2550 Maintains Outperform 01/24/2024 3.87% Citigroup $2292 → $2699

Chipotle Mexican Grill (NYSE:CMG) ANNOUNCES FOURTH QUARTER AND FULL YEAR 2023 RESULTS PR Newswire NEWPORT BEACH, Calif., Feb. 6, 2024 FY23 EPS INCREASES OVER 38% AND COMPARABLE SALES INCREASE 7.9% AS MARGINS EXPAND NEWPORT BEACH, Calif., Feb. 6, 2024 /PRNewswire/ — Chipotle Mexican Grill, Inc. (NYSE: CMG) today reported financial results for its fourth quarter and fiscal year ended December 31, 2023. Fourth quarter highlights, year over year: — Total revenue increased 15.4% to $2.5 billion — Comparable restaurant sales increased 8.4% — Operating margin was 14.4%, an increase from 13.6% — Restaurant level operating margin was 25.4%1, an increase of 140 basis points — Diluted earnings per share was $10.21, a 27.3% increase from $8.02. Adjusted diluted earnings per share, which excluded a $0.15 after-tax impact from expenses related to accelerated depreciation, partially offset by a reduction in contingencies related to certain legal proceedings, was $10.361, a 25.0% increase

Chipotle Mexican Grill (NYSE:CMG) Posts Q4 Revenue $2.52B, vs. Street Est of $2.489B。

Chipotle Mexican Grill (NYSE:CMG) Sees 285 to 315 New Restaurant Openings in FY24。

Chipotle Mexican Grill (NYSE:CMG) reported quarterly earnings of $10.36 per share which beat the analyst consensus estimate of $9.75 by 6.26 percent. The company reported quarterly sales of $2.52 billion which beat the analyst consensus estimate of $2.49 billion by 1.11 percent. This is a 15.36 percent increase over sales of $2.18 billion the same period last year.

Chipotle Mexican Grill expects to increase prices again this year, but how much to compensate for higher wages in California remains the wild card. The burrito chain says on a 4Q call that it expects prices to be 2.5% to 3% higher in its current 1Q, but hasn’t decided on the rest of the year. Chipotle says around 15% of its restaurants are in California, where fast-food wages for chains will rise to at least $20 an hour in April.

The following is a summary of the Chipotle Mexican Grill, Inc. (NYSE: CMG) Q4 2023 Earnings Call Transcript: Financial Performance: 2023 annual sales grew by 14% to $9.9 billion and fourth quarter sales grew 15% to $2.5 billion, both driven by strong comp growth. Digital sales represented 37% of all sales for the full year and 36% for Q4. Restaurant level margin improved, reaching 26.2% for the full year and 25.4% for Q4. Adjusted diluted EPS was $44.86 for the full year, a 37% growth over last year. The company ended the year with a robust balance sheet holding $1.9 billion in cash and investments, and no debt. Chipotle forecasts mid-single digit comp growth for fiscal 2024 and a lower cost of sales in Q1 2024. Business Progress: Successfully opened a record 271 new restaurants in 2023, including 238 featuring Chipotlane concept. Continues to focus on five key strategies: people