Chipotle Mexican Grill (CMG)

• Market cap: $77.8B
• 1 day: -0.05%
• 5 days: 1.65%
• 1 month: -1.21%
• 3 months: -1.58%
• 6 months: 6.82%
• Year to date: -4.34%
• 1 year: 7.41%
• 5 years: 231.54%
• 10 years: 342.05%
• 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: 665 | Existing positions reduced: 444

36% more first-time investments, than exits

New positions opened: 210 | Existing positions closed: 154

3% more funds holding

Funds holding: 1,455 [Q2] → 1,492 (+37) [Q3]

4.99% less ownership

Funds ownership: 91.37% [Q2] → 86.38% (-4.99%) [Q3]

7% less funds holding in top 10

Funds holding in top 10: 28 [Q2] → 26 (-2) [Q3]

18% less capital invested

Capital invested by funds: $83.3B [Q2] → $68.1B (-$15.2B) [Q3]

19% less call options, than puts

Call options by funds: $4.2B | Put options by funds: $5.18B

Research analyst outlook

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

• Low target: $59 3% upside
• Avg. target: $67 17% upside
• High target: $75 31% upside

15 analyst ratings

• positive: 11 73%
• neutral: 4 27%
• negative: 0 0%

Stifel Chris O'Cull 83% 1-year accuracy 30 / 36 met price target	19% upside $68	Buy Maintained	5 Feb 2025
Piper Sandler Brian Mullan 82% 1-year accuracy 9 / 11 met price target	3% upside $59	Neutral Maintained	5 Feb 2025
Wells Fargo Zachary Fadem 74% 1-year accuracy 26 / 35 met price target	22% upside $70	Overweight Maintained	5 Feb 2025
Citigroup Jon Tower 65% 1-year accuracy 20 / 31 met price target	22% upside $70	Buy Maintained	5 Feb 2025
Keybanc Eric Gonzalez 46% 1-year accuracy 13 / 28 met price target	12% upside $64	Overweight Maintained	5 Feb 2025