CHIPOTLE MEXICAN GRILL, INC.
At today's price, CHIPOTLE MEXICAN GRILL, INC. (CMG) is priced for +23.0% growth. boothcheck doesn't publish a fair value or a price target; it shows what the price assumes, so you can judge whether that bar is too high. Built from SEC EDGAR filings.
• Chipotle is a company-operated restaurant chain whose model produces unusual returns on capital, a trailing operating margin around 15% and a return on equity above 60%, because it owns no franchise drag and runs high-volume kitchens off a small asset base. • The defining tension is comps versus units: same-store sales were roughly flat in the latest quarter while the company opened dozens of new restaurants, so the growth the price needs is coming from building stores, not from busier ones. •
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1,208 institutional managers reported holding CMG in 13F filings for the quarter ended 2026-03-31. Together they hold about 84% of the company; the top 10 hold 46%. 100 opened new positions that quarter. Held by Vanguard Group, BlackRock, Capital Group (American Funds), among others. On the short side, 50.0M shares were sold short as of the 2026-06-15 count, about 4% of shares outstanding (2 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
CMG has cut its share count 7.7% over the past five years, spending $6.14B on repurchases. It pays no dividend. Cash returned over the past three years: $4.64B in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at CMG over the trailing three years: 2023: 2 buys totaling $2.00M; 2025: 1 buy totaling $498k. 20 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
CMG's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-07-29 | -10.0% | -4.2% |
| 2023-10-28 | +2.5% | +21.2% |
| 2024-02-09 | +7.9% | +12.1% |
| 2024-04-26 | +6.8% | -1.7% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
CMG's latest 8-K filings: 2026-07-08 (items 8.01); 2026-06-17 (items 5.07); 2026-04-29 (items 2.02, 9.01); 2026-04-27 (items 7.01, 9.01); 2026-02-03 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Nothing here is investment advice.
Last analyzed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.