Scott Boatwright, Chief Operating Officer at Chipotle Mexican Grill (NYSE:CMG), executed a substantial insider sell on April 29, according to an SEC filing.
What Happened: According to a Form 4 filing with the U.S. Securities and Exchange Commission on Monday, Boatwright sold 1,100 shares of Chipotle Mexican Grill. The total transaction value is $3,509,179.
Chipotle Mexican Grill's shares are actively trading at $3189.83, experiencing a down of 0.61% during Tuesday's morning session.
Unveiling the Story Behind Chipotle Mexican Grill
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 in 3 months is evident. As of 31 March, 2024, the ...