Here's Why Chipotle Mexican Grill Stock Fell Today [The Motley Fool]
Chipotle Mexican Grill, Inc. (CMG)
Last chipotle mexican grill, inc. earnings: 4/21 04:10 pm
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ir.chipotle.com
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Source: The Motley Fool
Here's Why Chipotle Mexican Grill Stock Fell Today An analyst downgrade on fears about global pork supply is taking a bite out of the burrito chain's stock price. Shares of Chipotle Mexican Grill ( NYSE:CMG ) were down 5.6% at 2:32 p.m. EDT on May 23, following a downgrade by an analyst at BMO Capital Markets in a note to investors. The analyst, Andrew Strelzik, is concerned that Chipotle's profit margins are set to get squeezed by higher pork prices in coming quarters. For those not aware, African swine fever is devastating pig farms in Asia; some estimates say that as much as 10% of Chinese pork output will be affected this year, and on a global basis, we could see as much as a 4% reduction in pork output. Moreover, it's expected to take multiple years to rebuild global swine populations enough to meet demand, and until then, pork prices are likely to be higher. This has sent lean-hog futures skyrocketing, and Strelzik says that's going to take a bite out of Chipotle's profits. In
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News
- Chipotle Mexican Grill (CMG) Q1 Earnings and Revenues Beat Estimates [Yahoo! Finance]Yahoo! Finance
- Chipotle to open its first-ever Oshkosh location [Yahoo! Finance]Yahoo! Finance
- Late Trading Dominated by Q1 Earnings: META, F, CMG & More [Yahoo! Finance]Yahoo! Finance
- Here's What Key Metrics Tell Us About Chipotle (CMG) Q1 Earnings [Yahoo! Finance]Yahoo! Finance
- Chipotle posts big earnings beat as diners shake off higher prices [MSNBC.com]MSNBC.com
CMG
Earnings
- 4/24/24 - Beat
CMG
Sec Filings
- 4/24/24 - Form 8-K
- 4/23/24 - Form ARS
- 4/23/24 - Form DEFA14A
- CMG's page on the SEC website