Chipotle Mexican Grill, Inc. (CMG)

The past six months have seen a mixed performance for Chipotle's stock, with a significant decline of approximately 29.01% over the past 12 months. In Q2 2025, Chipotle reported a 4% decline in comparable sales and a 3% decrease in adjusted diluted EPS year-over-year. In Q3 2025, comparable restaurant sales increased by a modest 0.3%, driven by a 1.1% increase in average check, though partially offset by a 0.8% decline in transactions. Chipotle reaffirmed its full-year 2025 guidance in January 2026, anticipating a low-single-digit decline in comparable restaurant sales. In January 2026, Chipotle announced leadership changes, including the transition of its Chief Brand Officer, Chris Brandt. Throughout late 2025 and early 2026, various analysts have reiterated or adjusted their ratings and price targets for CMG.

Chipotle experiences demand seasonality, with March through May considered the busy season, leading to seasonal hiring. The second quarter (April-June) can be a seasonally slow period, during which summer marketing initiatives are rolled out. Limited-time offers, such as Chipotle Honey Chicken and Adobo Ranch, can drive incremental transactions and increase customer spending and visit frequency.

Chipotle Mexican Grill, Inc. is an American multinational chain of fast-casual restaurants specializing in Mexican-inspired cuisine, operating within the consumer cyclical sector. Chipotle is known for its focus on "Food with Integrity," emphasizing responsibly sourced, real food without artificial additives. Its major products include customizable bowls, tacos, Mission burritos, quesadillas, and salads, along with a variety of beverages. As of September 30, 2025, Chipotle operated over 3,900 restaurants.

Chipotle's primary geographic footprint is in the United States, with a significant international presence in Canada, the United Kingdom, France, Germany, and the Middle East. The company is actively expanding its global reach, with plans to open restaurants in Mexico by early 2026 through a joint venture with Alsea, and to enter Eastern Asia in 2026 with initial openings in South Korea and Singapore via a joint venture with SPC Group.

Chipotle's brand reputation is largely built on its "Food with Integrity" mission, emphasizing high-quality ingredients and consistent operational standards. The company has also invested in technology to enhance order management and delivery services. In the past year, Chipotle has continued strategic marketing initiatives to maintain brand relevance, such as the December 2025 collaboration with BÉIS. However, the brand's reputation has also faced challenges, including clarification of Bill Ackman's affiliation and the impact of declining consumer confidence. Despite these headwinds, some analysts believe the brand remains fundamentally healthy.

Chipotle Mexican Grill's ownership is predominantly institutional, with institutional shareholders holding between 86.74% and 93% of all shares. Major institutional owners include Vanguard Group Inc., BlackRock Inc., Capital World Investors, State Street Corp, JPMorgan Chase & Co, Price T Rowe Associates Inc /md/, Geode Capital Management, Llc, Fmr Llc, and Alliancebernstein L.P. Individual insider ownership is relatively low, ranging from 0.54% to 0.96%.