Joe Terranova Chipotle Mexican Grill CMG-N BUY Jun 24, 2024

Sells at 38x PE, so this will be down on today's tariff news, but buy it after all the tariff news.

They reported a quarter that people didn't like, but shares still rose. This means that this company has limited tariff problems. This stock will never be cheap, but it's rarely been down this long.

He sold it. Momentum faded from a revenue slowdown. He owned it for a long time.

Stock's down due to headwinds from macro economic concerns. Very well run, operations are spotless. Still runway for growth. Great chance to buy a quality company that's been hit.

It's quality on sale, though has disappointed this year. Expects unit growth and margin to expand. 

Is up 12.5% in 3 months. It's nonsense that their meals are too expensive. Problem is they haven't delivered two good quarters. If it does, it will break out again.

Positioning appeals to a broad demographic, especially younger consumers who are more focused on quality and sustainability. Same-store sales expected to grow 6-7% this year. Brand still has pricing power. Store expansion is aggressive (300 stores this year) but disciplined. Efficiency is key to the story. 

Not cheap, but justified. Track record of execution, clean balance sheet. Reports today after the bell, and she expects a beat. No dividend.

Their food items are too expensive, with some like the steak burrito nearly doubling since 2019. Problem is, macro factors won't lower their prices anytime soon. And Wall Street doesn't like companies that reduce their prices.

The last reported a disappointing quarter and lowered their same-store, full-year sales forecast. Is down 29% this year. Is an opportunity now.

Until the rising price of beef breaks, keep this on your radar and don't buy yet.