Chipotle Mexican Grill (CMG)

• Market cap: $84.3B
• 1 day: 0.21%
• 5 days: -4.68%
• 1 month: 5.08%
• 3 months: 8.11%
• 6 months: -3.76%
• Year to date: 37.80%
• 1 year: 33.69%
• 5 years: 270.70%
• 10 years: 363.45%
• Sector: Consumer Discretionary
• Industry: Eating Places

About: Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is almost exclusively company-owned, with just two license stores opearted through a master franchise relationship with Alshaya Group in the Middle East. It had a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although it maintains a small presence in Canada, the UK, France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.

Employees: 116,068

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

50% more repeat investments, than reductions

Existing positions increased: 664 | Existing positions reduced: 444

20% more first-time investments, than exits

New positions opened: 209 | Existing positions closed: 174

2% more funds holding

Funds holding: 1,455 [Q2] → 1,490 (+35) [Q3]

4.61% less ownership

Funds ownership: 87.8% [Q2] → 83.19% (-4.61%) [Q3]

11% less funds holding in top 10

Funds holding in top 10: 28 [Q2] → 25 (-3) [Q3]

18% less capital invested

Capital invested by funds: $80.2B [Q2] → $65.6B (-$14.6B) [Q3]

19% less call options, than puts

Call options by funds: $4.15B | Put options by funds: $5.13B

Research analyst outlook

16 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $56 9% downside
• Avg. target: $67 8% upside
• High target: $75 21% upside

16 analyst ratings

• positive: 10 63%
• neutral: 6 38%
• negative: 0 0%

RBC Capital Logan Reich 41% 1-year accuracy 7 / 17 met price target	21% upside $75	Outperform Maintained	17 Dec 2024
Jefferies Andy Barish 60% 1-year accuracy 6 / 10 met price target	0% upside $62	Hold Maintained	16 Dec 2024
Raymond James Brian Vaccaro 63% 1-year accuracy 10 / 16 met price target	16% upside $72	Outperform Maintained	16 Dec 2024
Wells Fargo Zachary Fadem 69% 1-year accuracy 24 / 35 met price target	21% upside $75	Overweight Maintained	12 Dec 2024
Evercore ISI Group David Palmer 71% 1-year accuracy 20 / 28 met price target	16% upside $72	Outperform Maintained	5 Dec 2024