Stock Update (NYSE:CMG): Chipotle Mexican Grill, Inc. Names Four New Directors as Part of Board Refresh Initiative

Chipotle Mexican Grill, Inc. (NYSE:CMG) has announced that four new members will be joining its Board of Directors: Paul T. Cappuccio, Robin S. Hickenlooper, Ali Namvar and Matthew Paull, effective December 14, 2016. The new Directors will serve an initial term through Chipotle’s 2017 Annual Meeting of Shareholders, and the Board of Directors currently consists of twelve members.

“Chipotle has enjoyed extraordinary success for most of our 23-year history, and it is important to us that we structure the company to enjoy similar success in the future,” said Steve Ells, Founder, Chairman and CEO of Chipotle. “The addition of these new directors strengthens our Board of Directors, and gives us the oversight, accountability and leadership we need as we continue our efforts to reestablish Chipotle as the leader we have been for much of our history.”

Pershing Square Capital Management, L.P. CEO William A. Ackman said, “We are pleased that Chipotle has taken the important step of refreshing its Board which will position the company for continued growth and long-term success. We look forward to working with the Board and management to create sustained value for all shareholders for many years to come.”

In connection with the appointments, Chipotle and Pershing Square have agreed to various provisions continuing at least until prior to the 2019 Annual Meeting of Shareholders. The full agreements with Pershing Square will be filed in a Current Report on Form 8-K with the Securities and Exchange Commission (the “SEC”). (Original Source)

Shares of Chipotle Mexican Grill closed yesterday at $382.35. CMG has a 1-year high of $555.34 and a 1-year low of $352.96. The stock’s 50-day moving average is $387.00 and its 200-day moving average is $405.17.

On the ratings front, Chipotle Mexican Grill (NYSE: CMG) has been the subject of a number of recent research reports. In a report issued on December 14, Nomura analyst Mark Kalinowski reiterated a Hold rating on CMG, with a price target of $333, which represents a potential downside of 13% from where the stock is currently trading. Separately, on December 13, Oppenheimer’s Brian Bittner reiterated a Hold rating on the stock .

According to, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Mark Kalinowski and Brian Bittner have a yearly average return of 10.1% and 14.1% respectively. Kalinowski has a success rate of 76% and is ranked #334 out of 4279 analysts, while Bittner has a success rate of 73% and is ranked #23.

Overall, 7 research analysts have rated the stock with a Sell rating, 6 research analysts have assigned a Hold rating and 7 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $376.29 which is -1.6% under where the stock closed yesterday.

Chipotle Mexican Grill, Inc. engages in the development and operation of fast-casual, fresh Mexican food restaurants throughout the U.S., which serve a focused menu of burritos, tacos, burrito bowls and salads. It also has restaurants in Canada, England, France and Germany. 

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