Disclosed on April 29, Brian Niccol, Chairman at Chipotle Mexican Grill (NYSE:CMG), executed a substantial insider sell as per the latest SEC filing.
What Happened: Niccol's decision to sell 6,406 shares of Chipotle Mexican Grill was revealed in a Form 4 filing with the U.S. Securities and Exchange Commission on Monday. The total value of the sale is $20,408,980.
Chipotle Mexican Grill shares are trading down 0.61% at $3189.83 at the time of this writing on Tuesday morning.
Get to Know Chipotle Mexican Grill Better
Chipotle Mexican Grill is the largest fast-casual chain restaurant in the United States, with systemwide sales of $9.9 billion in 2023. The Mexican concept is predominately company-owned (it recently inked a development agreement with Alshaya Group in the Middle East), with a footprint of nearly 3,440 stores at the end of 2023, heavily indexed to the United States, although the firm maintains a small presence in Canada, the U.K., France, and Germany. Chipotle sells burritos, burrito bowls, tacos, quesadillas, and beverages, with a selling proposition built around competitive prices, high-quality food sourcing, speed of service, and convenience. The company generates its revenue entirely from restaurant sales and delivery fees.
Chipotle Mexican Grill's Economic Impact: An Analysis
Revenue Growth: Chipotle Mexican Grill's remarkable performance ...