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Chipotle's chief customer & technology officer sells $1.01 million in stock

Published 11/12/2024, 08:42 am
CMG
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In a recent transaction, Garner Curtis E, the Chief Customer & Technology Officer of Chipotle Mexican Grill Inc . (NYSE:CMG), sold 15,750 shares of the company's common stock. The sales, which took place on December 9, 2024, were executed at prices ranging from $63.76 to $65.44 per share, resulting in a total value of approximately $1,013,814.

Following these transactions, Curtis retains ownership of 426,264 shares of Chipotle. These stock sales were carried out under a prearranged trading plan, commonly known as a 10b5-1 plan, which allows company insiders to sell a predetermined number of shares at set times. Notably, Chipotle maintains a perfect Piotroski Score of 9, indicating strong financial health. For deeper insights into Chipotle's valuation and 15+ additional exclusive ProTips, investors can access the comprehensive Pro Research Report available on InvestingPro.

In other recent news, Chipotle Mexican Grill Inc. has been making significant strides in its business operations. The company reported a 13% rise in sales to $2.8 billion and a 6% increase in comparable sales for the third fiscal quarter of 2023. As part of its growth strategy, Chipotle opened 86 new restaurants, 73 of which featured the drive-thru "Chipotlane." The company also plans to expand to 7,000 locations in North America and increase annual unit volumes to over $4 million.

RBC analysts and Truist Securities have expressed confidence in Chipotle's strong financial position and growth trajectory. RBC named Chipotle as a strong contender in the U.S. Restaurants & Leisure sector, highlighting the company's successful operational improvements. Truist Securities, on the other hand, raised their price target for Chipotle's stock following recent menu price increases.

Evercore ISI also raised its financial outlook on Chipotle, citing a 7% growth in same-store sales quarter-to-date, surpassing their own estimate of 6.5% and the consensus of 5.5%. Furthermore, Scott Boatwright was confirmed as Chipotle's permanent CEO, a move seen as favorable due to his operational focus. These are the recent developments that continue to shape Chipotle's ongoing strategy to sustain growth and operational efficiency.

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

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