CMG

SHORT

Chipotle Mexican Grill Inc

Research: Finviz ↗·Perplexity ↗

🗄 Viewing archived Q1 2026 data — frozen, no longer refreshed.

Funds

Score

2.45

vs SPY

-15.0%

Stock return (since Q-end)

+4.7%

SPY return (since Q-end)

+19.7%

Current price

$33.50

Days to cover (short int.)

2.2d↓-22.9%

as of 2026-07-31

News Summary

Neutral

CMG delivered better-than-expected Q1 and Q2 2026 results with raised guidance (flat to low single-digit comps growth), strong unit growth (149 openings in H1), and expanding digital penetration (38%+ of sales). However, margin compression (250 bps in Q2), recurring food safety incidents (cyclospora, salmonella outbreaks), and persistent operational headwinds (wage/beef inflation) created material headwinds that offset growth achievements.

Red flags

•Operating margin contracted 250 basis points to 15.7% in Q2 2026 vs 18.2% YoY; restaurant-level margins fell 220 bps
•Two significant food safety incidents (cyclospora in July, salmonella jalapeños in August) caused stock drops of ~5-10% and 2 ppt sales impact, demonstrating persistent brand vulnerability
•Adjusted EPS guidance modest ($0.24-$0.33 in H1) despite 7-9% revenue growth, indicating margin pressure offsetting topline gains
•Comparable restaurant sales growth decelerating expectations (initial guidance flat, revised to 'low single-digit'), suggesting comping challenges despite promotional efforts
•Key leadership departure (President & Chief Brand Officer Chris Brandt in January 2026) with interim CMO search still ongoing as of Q2

Funds Reducing / Exiting (3)

Fund	Manager	∆ Shares	Position Value	% of Fund	QoQ	Status
Duquesne Family Office	Stanley Druckenmiller	−392K	—	0.3%	-100%	EXITED
Third Point	Dan Loeb	−4.7M	—	2.4%	-100%	EXITED
Point72	Steve Cohen	−590K	—	0.1%	-100%	EXITED

Shares Held reflects quarter-end positions for partial reductions. Funds that fully exited show 0 shares held. ∆ Shares is the change from the prior quarter. % of Fund is the prior-quarter position size — how much of the book was sold down.

Beneficial Ownership (13D/13G)

Filer	Form	Shares	% of Class	Filed	Src
Capital World Investors	SC 13G/A	101.8M	7.7%	2026-02-13	↗
The Vanguard Group	SC 13G/A	144.6M	10.9%	2026-01-07	↗

SC 13D = active intent to influence control (10-day filing deadline after crossing 5%). SC 13G = passive accumulation, no intent to influence control.