Stock Markets

Chipotle shareholders approve historic 50-for-1 stock split

Published

7 months ago

June 7, 2024

NEWPORT BEACH, Calif. – Chipotle Mexican Grill, Inc. (NYSE: NYSE:) announced today that its shareholders have approved a significant 50-for-1 stock split. The decision, deemed one of the largest in the history of the New York Stock Exchange, will see the company’s shares begin trading on a split-adjusted basis starting Wednesday, June 26, 2024.

Shareholders on record by June 18 will receive 49 additional shares for each share they own after the market closes on June 25. This move is aimed at making Chipotle’s stock more accessible to a wider investor base and its employees, according to Jack Hartung, the company’s Chief Financial and Administrative Officer.

In addition to the stock split, Chipotle is also issuing a special one-time equity grant to all its restaurant general managers and crew members who have been with the company for over 20 years. This grant is a gesture of appreciation for their contributions and is aligned with the company’s strong performance.

Chipotle operates nearly 3,500 restaurants across several countries and is recognized for its commitment to serving food made with wholesome ingredients. It is also noted for its innovative business practices in digital technology and sustainability. The company employs over 120,000 people who are dedicated to providing quality customer service.

The information regarding the stock split and the equity grant is based on a press release statement. It should be noted that forward-looking statements contained in the press release are subject to various risks and uncertainties, and actual outcomes may differ materially from those projected. These statements are not guarantees of future performance, and investors are cautioned to consider the inherent risks and uncertainties.

In other recent news, Chipotle Mexican Grill has been under the spotlight for several reasons. The company reported a 7% increase in comparable sales growth and total sales of $2.7 billion for the first quarter of fiscal 2024, with digital sales accounting for 37% of the total. Chipotle also opened 47 new locations during the quarter and plans to open between 285 to 315 new restaurants throughout the year.

In another development, Truist Securities raised its price target on Chipotle shares to $3,520, maintaining its Buy rating. The decision came after a series of meetings with Chipotle’s management, which gave Truist deeper insights into the company’s operational strategies and growth potential. Despite this, Truist is slightly lowering its earnings estimates for Chipotle, citing less impact from price increases.

Additionally, the New York Stock Exchange (NYSE) recently faced a technical issue, causing temporary trading halts of several NYSE-listed stocks, including Chipotle. The NYSE is currently investigating the problem and has assured further details will be shared when available. These are the latest developments involving Chipotle Mexican Grill that investors should be aware of.

InvestingPro Insights

As Chipotle Mexican Grill, Inc. (NYSE: CMG) gears up for a major stock split to enhance its stock’s accessibility, the financial metrics and market performance offer an intriguing backdrop to this corporate action. With a robust market capitalization of 87.0 billion USD, Chipotle stands out in the fast-casual dining sector, reflecting investor confidence and a substantial footprint in the industry.

The company’s P/E ratio, standing at 67.3, indicates that investors are willing to pay a higher price for earnings, which aligns with an InvestingPro Tip highlighting Chipotle’s trading at a high earnings multiple. This could be a testament to the market’s expectations of continued growth and operational efficiency. Additionally, the P/E ratio adjusted for the last twelve months as of Q1 2024 is slightly lower at 65.78, suggesting a slight recalibration in valuation perspectives.

InvestingPro Data reveals a healthy revenue growth of 13.61% over the last twelve months as of Q1 2024, coupled with a gross profit margin of 40.88%, underscoring the company’s ability to maintain profitability amidst its expansion efforts. Moreover, Chipotle’s solid financial foundation is further exemplified by its EBITDA growth of 20.45% during the same period, indicating robust operational earnings before interest, taxes, depreciation, and amortization.

Investors evaluating the stock’s near-term prospects may find the InvestingPro Tip regarding Chipotle’s low price volatility particularly relevant, as the company has experienced a significant 52.95% return over the past year, demonstrating a strong trajectory in shareholder value. Additionally, with 18 more InvestingPro Tips available, including insights on profitability and debt levels, investors can gain a comprehensive understanding of Chipotle’s financial health by visiting https://www.investing.com/pro/CMG. For those interested in a deeper dive, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

As Chipotle continues to innovate and expand, these financial metrics and expert insights provide a valuable lens through which to assess the company’s strategic moves, including the upcoming stock split and special equity grant for long-term employees.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

Stock Markets

BioAge Labs (BIOA) Azelaprag Trial Halt Raises Questions About Pre-IPO Disclosures – Hagens Berman

Published

12 hours ago

December 26, 2024

San Francisco, California–(Newsfile Corp. – December 25, 2024) – On December 9, 2024, just months after conducting an initial public offering in September 2024, BioAge Labs, Inc. (NASDAQ: BIOA) made the startling announcement that it was discontinuing a Phase 2 study for its lead product, azelaprag, intended to treat metabolic diseases such as obesity.

Hagens Berman has opened an investigation and urges investors in BioAge who purchased shares in the company’s IPO or on the open market and suffered substantial losses to submit your losses now.

Visit: www.hbsslaw.com/investor-fraud/bioa
Contact the Firm Now: BIOA@hbsslaw.com
844-916-0895

BioAge Labs, Inc. (BIOA) Investigation:

The investigation is focused on the propriety of BioAge’s disclosures about the safety data and other matters related to azelaprag, which the company said in its IPO documents has been “well-tolerated in 265 individuals across eight Phase 1 clinical trials.”

BioAge’s disclosures came into question after the market closed on December 6, 2024, when the company announced the discontinuation of the STRIDES Phase 2 clinical trial evaluating azelaprag in combination with tirzepatide for the treatment of obesity. BioAge said that liver transaminitis was observed in patients receiving azelaprag.

This news drove the price of BioAge shares down almost 80% on December 9, 2024.

“We’re focused on whether BioAge was transparent to investors about the azelaprag safety profile before the December 6 announcement,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in BioAge and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the BioAge investigation, read more »

Whistleblowers: Persons with non-public information regarding BioAge should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email BIOA@hbsslaw.com.

# # #

About Hagens Berman
Hagens Berman is a global plaintiffs’ rights complex litigation firm focusing on corporate accountability. The firm is home to a robust practice and represents investors as well as whistleblowers, workers, consumers and others in cases achieving real results for those harmed by corporate negligence and other wrongdoings. Hagens Berman’s team has secured more than $2.9 billion in this area of law. More about the firm and its successes can be found at hbsslaw.com. Follow the firm for updates and news at @ClassActionLaw.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235182

Stock Markets

Celsius Holdings (CELH) Hit with Investor Class Action Amid Accusations of Oversold Inventory to Pepsi- Hagens Berman

Published

12 hours ago

December 26, 2024

CELH Investors with Losses Encouraged to Contact the Firm

San Francisco, California–(Newsfile Corp. – December 25, 2024) – Celsius Holdings (NASDAQ:), Inc. (NASDAQ: CELH) and certain of its C-Suite officers are embroiled in a securities class action lawsuit, claiming they misrepresented and concealed crucial information about the company’s financial performance, especially concerning its key customer, PepsiCo (NASDAQ:).

Hagens Berman is investigating the allegations and urges investors in Celsius who purchased shares and suffered substantial losses to submit your losses now.

Class Period: Feb. 29, 2024 – Sept. 4, 2024
Lead Plaintiff Deadline: Jan. 21, 2025
Visit: www.hbsslaw.com/investor-fraud/celh
Contact the Firm Now: CELH@hbsslaw.com
844-916-0895

Celsius Holdings, Inc. (CELH) Securities Class Action (WA:):

The lawsuit alleges that during the Class Period, Celsius failed to disclose to investors several critical points:

Oversold Inventory: Celsius significantly oversold inventory to Pepsi beyond demand, leading to a potential drastic reduction in future purchases.
Declining Sales: As Pepsi depleted its overstock, Celsius’ sales were projected to decline, impacting its financial health and outlook.
Unsustainable Sales Rates: The sales rates to Pepsi were unsustainable and created a misleading impression of the company’s performance.
Misleading Metrics: Consequently, Celsius’ business metrics and financial prospects were overstated

The situation came to light on May 28, 2024, when Celsius’ stock price plummeted nearly 13% following reports from Nielsen indicating slowed sales growth. Analysts highlighted the possibility of significantly reduced sales as Pepsi cut back its inventory.

The stock took another hit on September 4, 2024, dropping over 11% after a company presentation revealed a shortfall of $100 million to $120 million in Pepsi orders compared to the previous year. It was also disclosed that Pepsi had held several million excess cases over the last 18 months.

These revelations have led shareholder rights firm Hagens Berman to investigate the allegations.

“We’re investigating whether Celsius deliberately painted an overly optimistic picture of its relationship with Pepsi, misleading investors about the true state of its financial health and sales sustainability,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Celsius and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Celsius case and our investigation, read more »

Whistleblowers: Persons with non-public information regarding Celsius Holdings should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email CELH@hbsslaw.com.

# # #

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/235180

Stock Markets

Suriname fugitive ex-President Desi Bouterse dead at 79

Published

12 hours ago

December 26, 2024

By Ank Kuipers

PARAMARIBO (Reuters) -Suriname’s fugitive former President Desi Bouterse has died aged 79, the country’s government said on Wednesday, almost a year after he fled authorities to avoid jail following his conviction over the murder of 15 political activists in 1982.

“The government has been informed through the family and its own investigations of the passing of Mr. D. Bouterse, ex-President of the Republic of Suriname,” Foreign Minister Albert Ramdin told Reuters.

The former leader died on Tuesday, the government said, without confirming where, or even in which country. Last week Surinamese authorities raided his home – where supporters gathered to pay their respects on Wednesday morning – but did not find him.

Surinamese President Chan Santokhi, who investigated the case as a police commissioner and later as justice minister, expressed condolences to Bouterse’s family and urged calm in a statement.

“In the spirit of the holiday season and year-end, the president calls on all to remain dignified and calm, maintain peace and order and engage in prayer in the spirit of these special days,” the statement said.

Bouterse dominated politics in the tiny South American country for decades, leading a coup in 1980 and finally leaving office in 2020.

In 2019 he and six others were convicted for their role in the 1982 murders of 15 leading government critics – including lawyers, journalists, union leaders, soldiers and university professors – for which Bouterse received a 20-year prison sentence.

Bouterse had claimed the murdered men were connected to a planned invasion of the former Dutch colony.

Following years of legal back and forth, Bouterse was ordered to report to prison in January but he did not show up on the appointed date.

Though Bouterse avoided prison by going on the run, Reed Brody, a U.S. war crimes prosecutor who monitored the case for the International Commission of Jurists, said justice had caught up with the convicted former president before he died.