Chipotle Authorizes $200M More for Share Buybacks
Ticker: CMG · Form: 10-K · Filed: 2024-02-08T00:00:00.000Z
Sentiment: bullish
Topics: share-repurchase, earnings, corporate-action
TL;DR
**Chipotle just greenlit another $200M for stock buybacks, signaling strong financial health and a boost for shareholders.**
AI Summary
Chipotle Mexican Grill Inc. filed its 10-K for the fiscal year ending December 31, 2023, on February 8, 2024. The filing indicates that the company's board authorized an additional $200 million for share repurchases on December 14, 2023, demonstrating a commitment to returning value to shareholders. This matters to investors because share repurchases can boost earnings per share and signal management's confidence in the company's valuation, potentially increasing the stock's appeal.
Why It Matters
This authorization signals Chipotle's confidence in its financial health and commitment to enhancing shareholder value, which can positively influence stock performance.
Risk Assessment
Risk Level: low — The filing primarily details routine financial information and a share repurchase authorization, which is generally a positive sign for investors.
Analyst Insight
An investor might consider this a positive signal, suggesting management believes the stock is undervalued and is committed to returning capital to shareholders. This could be a good time to hold or consider adding to a position, especially if other fundamentals are strong.
Key Numbers
- $200M — Additional Share Repurchase Authorization (Amount authorized by the board on December 14, 2023, for buying back company stock.)
Key Players & Entities
- CHIPOTLE MEXICAN GRILL INC (company) — the company filing the 10-K
- $200 million (dollar_amount) — additional authorization for share repurchases
- December 14, 2023 (date) — date of additional share repurchase authorization
- December 31, 2023 (date) — end of the fiscal year reported
- February 8, 2024 (date) — date the 10-K was filed
Forward-Looking Statements
- Chipotle's stock price will see a positive short-term reaction due to the share repurchase authorization. (CHIPOTLE MEXICAN GRILL INC) — medium confidence, target: 2024-03-08
- The share repurchase program will contribute to an increase in earnings per share (EPS) for Chipotle in future quarters. (CHIPOTLE MEXICAN GRILL INC) — high confidence, target: 2024-09-30
FAQ
What was the fiscal year-end for the period covered by this 10-K filing?
The fiscal year-end for the period covered by this 10-K filing was December 31, 2023.
When was the additional share repurchase authorization approved by Chipotle's board?
The additional share repurchase authorization was approved by Chipotle's board on December 14, 2023.
What was the amount of the additional share repurchase authorization mentioned in the filing?
The additional share repurchase authorization was for $200 million.
What is Chipotle Mexican Grill Inc.'s Central Index Key (CIK) according to the filing?
Chipotle Mexican Grill Inc.'s Central Index Key (CIK) is 0001058090.
What is the business address listed for Chipotle Mexican Grill Inc. in the filing?
The business address listed is 610 Newport Center Dr, Suite 1100, Newport Beach, CA 92660.
From the Filing
0001562762-24-000023.txt : 20240208 0001562762-24-000023.hdr.sgml : 20240208 20240207182405 ACCESSION NUMBER: 0001562762-24-000023 CONFORMED SUBMISSION TYPE: 10-K PUBLIC DOCUMENT COUNT: 98 CONFORMED PERIOD OF REPORT: 20231231 FILED AS OF DATE: 20240208 DATE AS OF CHANGE: 20240207 FILER: COMPANY DATA: COMPANY CONFORMED NAME: CHIPOTLE MEXICAN GRILL INC CENTRAL INDEX KEY: 0001058090 STANDARD INDUSTRIAL CLASSIFICATION: RETAIL-EATING PLACES [5812] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 841219301 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-32731 FILM NUMBER: 24606220 BUSINESS ADDRESS: STREET 1: 610 NEWPORT CENTER DR STREET 2: SUITE 1100 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 BUSINESS PHONE: 949-524-4000 MAIL ADDRESS: STREET 1: 610 NEWPORT CENTER DR STREET 2: SUITE 1100 CITY: NEWPORT BEACH STATE: CA ZIP: 92660 10-K 1 cmg-20231231x10k.htm FORM 10K cmg-20231231x10k false --12-31 FY 2023 0001058090 Yes Yes No Yes P3Y P3Y P3Y P3Y P3Y 0001058090 us-gaap:DomesticCountryMember 2023-01-01 2023-12-31 0001058090 cmg:NotPartOfShareRepurchasePlanMember 2023-01-01 2023-12-31 0001058090 cmg:NotPartOfShareRepurchasePlanMember 2022-01-01 2022-12-31 0001058090 cmg:NotPartOfShareRepurchasePlanMember 2021-01-01 2021-12-31 0001058090 us-gaap:GeneralAndAdministrativeExpenseMember 2023-01-01 2023-12-31 0001058090 us-gaap:GeneralAndAdministrativeExpenseMember 2022-01-01 2022-12-31 0001058090 us-gaap:GeneralAndAdministrativeExpenseMember 2021-01-01 2021-12-31 0001058090 cmg:AdditionalAuthorizationMember 2023-12-14 0001058090 us-gaap:EmployeeStockMember 2022-01-01 2022-12-31 0001058090 us-gaap:EmployeeStockMember 2021-01-01 2021-12-31 0001058090 us-gaap:RetainedEarningsMember 2023-12-31 0001058090 us-gaap:AdditionalPaidInCapitalMember 2023-12-31 0001058090 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2023-12-31 0001058090 us-gaap:RetainedEarningsMember 2022-12-31 0001058090 us-gaap:AdditionalPaidInCapitalMember 2022-12-31 0001058090 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2022-12-31 0001058090 us-gaap:RetainedEarningsMember 2021-12-31 0001058090 us-gaap:AdditionalPaidInCapitalMember 2021-12-31 0001058090 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2021-12-31 0001058090 us-gaap:RetainedEarningsMember 2020-12-31 0001058090 us-gaap:AdditionalPaidInCapitalMember 2020-12-31 0001058090 us-gaap:AccumulatedOtherComprehensiveIncomeMember 2020-12-31 0001058090 us-gaap:OtherOperatingIncomeExpenseMember 2023-01-01 2023-12-31 0001058090 us-gaap:OtherOperatingIncomeExpenseMember 2022-01-01 2022-12-31 0001058090 us-gaap:OtherOperatingIncomeExpenseMember 2021-01-01 2021-12-31 0001058090 us-gaap:TreasuryStockCommonMember 2023-12-31 0001058090 us-gaap:CommonStockMember 2023-12-31 0001058090 us-gaap:TreasuryStockCommonMember 2022-12-31 0001058090 us-gaap:CommonStockMember 2022-12-31 0001058090 us-gaap:TreasuryStockCommonMember 2021-12-31 0001058090 us-gaap:CommonStockMember 2021-12-31 0001058090 us-gaap:TreasuryStockCommonMember 2020-12-31 0001058090 us-gaap:CommonStockMember 2020-12-31 0001058090 cmg:StockAwards2018Member us-gaap:PerformanceSharesMember 2020-12-30 0001058090 cmg:StockAwards2018Member us-gaap:PerformanceSharesMember 2020-01-01 2020-12-31 0001058090 cmg:StockOptionsStockAppreciationRightsSosarsMember 2022-01-01 2022-12-31 0001058090 cmg:StockOptionsStockAppreciationRightsSosarsMember 2021-01-01 2021-12-31 0001058090 cmg:StockIncentivePlan2022Member 2023-12-31 0001058090 us-gaap:StockAppreciationRightsSARSMember 2023-01-01 2023-12-31 0001058090 us-gaap:PerformanceSharesMember cmg:DefinedMinimumTargetsNotMetMember 2022-01-01 2022-12-31 0001058090 us-gaap:PerformanceSharesMember cmg:DefinedMinimumTargetsNotMetMember 2021-01-01 2021-12-31 0001058090 us-gaap:RestrictedStockUnitsRSUMember 2022-12-31 0001058090 us-gaap:PerformanceSharesMember 2022-12-31 0001058090 us-gaap:RestrictedStockUnitsRSUMember 2022-01-01 2022-12-31 0001058090 us-gaap:RestrictedStockUnitsRSUMember 2021-01-01 2021