Chipotle Mexican Grill (CMG)

Company Profile

Chipotle Mexican Grill, Inc. is cultivating a better world by serving responsibly sourced, classically-cooked, real food with wholesome ingredients without artificial colors, flavors or preservatives. Chipotle had over 2,700 restaurants as of September 30, 2020, in the United States, Canada, the United Kingdom, France and Germany and is the only restaurant company of its size that owns and operates all its restaurants. With more than 94,000 employees passionate about providing a great guest experience, Chipotle is a longtime leader and innovator in the food industry. Chipotle is committed to making its food more accessible to everyone while continuing to be a brand with a demonstrated purpose as it leads the way in digital, technology and sustainable business practices. Steve Ells, founder and former executive chairman, first opened Chipotle with a single restaurant in Denver, Coloradoin 1993.

Company profile

Ticker

CMG

Exchange

NYSE

Website

www.chipotle.com

CEO

Brian R. Niccol

Location

California

Fiscal year end

Dec 31

Sector

Accommodation and Food Services > Food Service Contractors

Industry (SIC)

Retail - Eating Places

McDonald`s • Aramark • Yum Brands • Darden Restaurants • Restaurant Brands International • Restaurant Brands International Limited Partnership • Yum China • Bloomin Brands • Dine Brands Global • Arcos Dorados ...

SEC CIK

0001058090

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

Chipotle Mexican Grill Canada Corp. • Chipotle Mexican Grill France SAS • Chipotle Mexican Grill Germany GMBH • Chipotle Mexican Grill of Berwyn Heights, LLC • Chipotle Mexican Grill of Colorado, LLC • Chipotle Mexican Grill of Kansas, LLC • Chipotle Mexican Grill of Maryland, LLC • Chipotle Mexican Grill Texas Holdings, LLC • Chipotle Mexican Grill U.S. Finance Co., LLC • Chipotle Mexican Grill UK Limited ...

IRS number

841219301

CMG stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Average target

$1,697.25

Low target

$1,450.00

High target

$1,875.00

Latest filings (excl ownership)

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8-K

Amendments to Articles of Incorporation or Bylaws

26 Oct 22

Chipotle ANNOUNCES Third QUARTER 2022 RESULTS

27 Jul 22

Chipotle ANNOUNCES SECOND QUARTER 2022 RESULTS

26 Jul 22

8-K

Submission of Matters to a Vote of Security Holders

20 May 22

S-8

Registration of securities for employees

18 May 22

S-8

Registration of securities for employees

18 May 22

DEFA14A

Additional proxy soliciting materials

28 Apr 22

Transcripts

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CMG

Earnings call transcript

2022 Q3

26 Oct 22

CMG

Earnings call transcript

2022 Q2

26 Jul 22

CMG

Earnings call transcript

2022 Q1

27 Apr 22

CMG

Earnings call transcript

2021 Q4

9 Feb 22

CMG

Earnings call transcript

2021 Q3

22 Oct 21

CMG

Earnings call transcript

2021 Q2

21 Jul 21

CMG

Earnings call transcript

2021 Q1

22 Apr 21

CMG

Earnings call transcript

2020 Q4

3 Feb 21

CMG

Earnings call transcript

2020 Q3

21 Oct 20

CMG

Earnings call transcript

2020 Q2

23 Jul 20

Latest ownership filings

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Financial summary

Financial statements Chart CMG financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	397.60 mm	397.60 mm	397.60 mm	397.60 mm	397.60 mm	397.60 mm
Cash burn (monthly)	51.41 mm	29.28 mm	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	215.32 mm	122.65 mm	n/a	n/a	n/a	n/a
Cash remaining	182.28 mm	274.95 mm	n/a	n/a	n/a	n/a
Runway (months of cash)	3.5	9.4	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from company earnings reports.

Institutional ownership, Q3 2022

CMG institutional ownership history Ownership history

93.5% owned by funds/institutions

13F holders	Current	Prev Q	Change
Total holders	897	861	+4.2%
Opened positions	123	91	+35.2%
Closed positions	87	112	-22.3%
Increased positions	313	284	+10.2%
Reduced positions	295	321	-8.1%

13F shares	Current	Prev Q	Change
Total value	38.29 bn	35.01 bn	+9.4%
Total shares	25.91 mm	26.84 mm	-3.5%
Total puts	1.57 mm	1.29 mm	+21.6%
Total calls	1.73 mm	1.81 mm	-4.1%
Total put/call ratio	0.9	0.7	+26.8%

Largest owners	Shares	Value	Change
Vanguard	2.62 mm	$3.94 bn	+4.6%
T. Rowe Price	2.10 mm	$3.15 bn	-22.5%
BLK Blackrock	1.97 mm	$2.96 bn	+1.2%
Susquehanna Securities	1.12 mm	$934.67 mm	0.0%
Pershing Square Capital Management	1.11 mm	$1.66 bn	0.0%
Capital International Investors	1.08 mm	$1.62 bn	+20.2%
Edgewood Management	1.08 mm	$1.62 bn	-9.1%
Capital World Investors	871.95 k	$1.31 bn	-10.7%
JPM JPMorgan Chase & Co.	781.58 k	$1.17 bn	-0.2%
FMR	597.86 k	$898.44 mm	-1.5%

Largest transactions	Shares	Bought/sold	Change
STT State Street	0.00	-1.05 mm	EXIT
T. Rowe Price	2.10 mm	-609.47 k	-22.5%
T. Rowe Price Investment Management	458.95 k	+458.95 k	NEW
Capital International Investors	1.08 mm	+181.05 k	+20.2%
Allianz Asset Management GmbH	30.15 k	-134.99 k	-81.7%
Voya Investment Management	318.17 k	+116.22 k	+57.5%
Vanguard	2.62 mm	+114.70 k	+4.6%
Edgewood Management	1.08 mm	-107.77 k	-9.1%
Capital World Investors	871.95 k	-103.99 k	-10.7%
Westfield Capital Management	67.11 k	+67.11 k	NEW

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

CMG insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	$Price	#Shares	$Value	#Remaining
23 Jan 23	Brandt Christopher W	common stock	Sell	Dispose S	No	Yes	1595	584	931.48 k	7,782
23 Jan 23	Brandt Christopher W	common stock	Payment of exercise	Dispose F	No	No	1595	199	317.41 k	8,366
23 Jan 23	Brandt Christopher W	common stock	Option exercise	Acquire M	No	No	403.89	783	316.25 k	8,565
23 Jan 23	Brandt Christopher W	2018 Sign-on SOSAR common stock	Option exercise	Dispose M	No	No	403.89	783	316.25 k	0
30 Dec 22	Boatwright Scott	common stock	Payment of exercise	Dispose F	No	No	1404.95	482	677.19 k	5,563
30 Dec 22	Brandt Christopher W	common stock	Payment of exercise	Dispose F	No	No	1404.95	426	598.51 k	7,782
30 Dec 22	Jack Hartung	common stock	Payment of exercise	Dispose F	No	No	1404.95	737	1.04 mm	64,262
30 Dec 22	Garner Curtis E	common stock	Payment of exercise	Dispose F	No	No	1404.95	766	1.08 mm	11,555