THE WEEK THAT WAS, ENDING JUNE 14th – ONLY ONE RATED COMPANY REPORTED - NO RATING CHANGES BUT LOTS OF INITIATED COVERAGE - with easily accessible relevant transcripts & presentations

PREVIOUSLY REPORTING: Only Rating change was Planet Fitness, Upgraded to Buy – LOTS OF MAINTENANCE & INITIATED COVERAGE, AS FOLLOWS:

Darden maintained Neutral at two firms, maintained Positively at seven firms

Sweetgreen maintained once at Hold, once at Overweight, Initiated at Buy

Jack in the Box Reiterated once at Hold, Initiated at (a rare) Sell

Dutch Bros maintained by two firms at Buy

Planet Fitness maintained once at Neutral once at Overweight

Shake Shack maintained once at BUY, Initiated by one firm at Buy

McDonald’s Initiated at Neutral, maintained by one firm at Buy

Yum Brands initiated at Neutral, maintained at Buy by one firm

Wendy’s initiated by one firm at Sell (a rarity), maintained by one firm at Buy

Starbucks reiterated once at Neutral, maintained once at Buy

Restaurant Brands reiterated at Buy, Initiated at Buy

Wingstop Initiated at Neutral, maintained once at Buy

Chipotle maintained once at Buy, Initiated at Buy

First Watch maintained once at Hold

Winmark initiated by one firm at Buy

Portillo’s maintained once at Overweight

Valvoline initiated at Overweight

CAVA Group maintained at Buy

COMPANIES REPORTING DURING WEEK: only company with analyst coverage was Dave & Buster’s (PLAY)

Conference call transcripts are below for all companies reporting in prior weeks with ratings changes (Planet Fitness), initiations (Sweetgreen, Jack in the Box, Shake Shack, McDonald’s, Yum Brands, Wendy’s, Restaurant Brands, Wingstop, Chipotle Winmark, Valvoline), or companies reporting in THE WEEK THAT WAS: (Dave & Buster’s, Noble Roman’s, Rocky Mountain Chocolate Factory, Nathan’s)- only Dave & Buster’s had conference call

TRANSCRIPTS & PRESENTATIONS

Planet Fitness (PLNT)

Planet Fitness, Inc. (PLNT) Q1 2024 Earnings Call Transcript _ Seeking Alpha

Sweetgreen (SG)

Sweetgreen, Inc. (SG) Q1 2024 Earnings Call Transcript _ Seeking Alpha

Jack in the Box (JACK)

Jack in the Box Inc. (JACK) Q2 2024 Earnings Call Transcript _ Seeking Alpha

Shake Shack (SHAK)

Shake Shack Inc. (SHAK) Q1 2024 Earnings Call Transcript _ Seeking Alpha

McDonald’s (MCD)

McDonald’s Corporation (MCD) Q1 2024 Earnings Call Transcript _ Seeking Alpha

Yum Brands (YUM)