Top Chipotle Shareholders

In 1993, Chipotle Mexican Grill Inc. (CMG) was founded in Denver by its first Chief Executive Officer (CEO), Steve Ells. By the end of 2023, Chipotle operated over 3,300 fast-casual Mexican restaurants in the United States.As of Dec. 31, 2023, the company’s revenue (TTM) was $9.9 billion with a net income (TTM) of $1.2 billion. Chipotle posted a market cap of $81.3 billion on March 26, 2024. Over 93% of Chipotle’s shares are held by institutions.

The top individual shareholders of Chipotle include Montgomery Moran, Steve Ells, and Jack Hartung. The top institutional shareholders of Chipotle are Vanguard Group, BlackRock Inc., (BLK), and JP Morgan Chase (JPM). In March 2024, Chipotle announced a 50-for-1 stock split. Chipotle shareholders will gain 49 additional shares for each share they own as of the record date of June 18, 2024, if the proposal is approved by shareholders at the annual meeting on June 6.

Top 3 Individual Insider Shareholders

Montgomery Moran

Montgomery Moran served as the Co-Chief Executive Officer of Chipotle Mexican Grill, Inc. from Jan. 1, 2009, to Dec. 2016 and as the company’s Secretary until Dec. 2016. He was also the company’s President and COO before his promotion to Co-CEO. Per the Securities and Exchange Commission (SEC) filing, Moran owns approximately 536,005 shares.Montgomery holds a Bachelor of Arts degree from the University of Colorado and a Juris Doctor degree, magna cum laude, from Pepperdine University School of Law.

Steve Ells

Steve Ells is the founder and former CEO of Chipotle Mexican Grill. Ells holds a Bachelor of Arts from the University of Colorado and worked at Stars Restaurant in San Francisco. As of Ells’ most recent filing with the SEC on February 28, 2020, the former CEO owns 231,363 shares.On February 13, 2018, Ells stepped down as CEO and Brian Niccol assumed his position. 

John Hartung

John Hartung has served as the Chief Financial and Administrative Officer and Chief Financial Officer of Chipotle since 2002. Hartung is Chipotle’s third-largest individual shareholder, with 67,166 shares, according to an SEC filing dated Feb. 16, 2024. Hartung holds a Bachelor of Science in Accounting and Economics and an MBA from Illinois State University.

Top 3 Institutional Shareholders

Vanguard Group Inc.

As of Dec. 30, 2023, Vanguard held 2,707,233 shares of CMG, representing 9.87% of shares outstanding. Since 1975, Vanguard has offered a broad selection of investments and retirement services to individual investors, institutions, and financial professionals. Vanguard manages 423 funds with approximately $8.6 trillion in total assets under management (AUM) as of Mar. 7, 2024.

BlackRock Inc.

BlackRock is a global company with 70 offices in 30 countries. BlackRock held 2,034,459 shares of CMG as of Dec 30, 2023, accounting for 7.42% of all shares outstanding. The company is the largest asset management firm in the world, with nearly $10 trillion AUM as of Mar. 7, 2024.

JP Morgan Chase

As of Dec. 30, 2023, JP Morgan Chase held 1,204,841 shares of CMG or 4.39% of outstanding shares.The company began in 1799 in New York City, and established firms that include J.P. Morgan & Co., The Chase Manhattan Bank, and Chemical Bank. JPM holds over $2.1 trillion AUM as of Mar. 26, 2024.

What Is a Stock Split?

Chipotle shareholders will gain 49 additional shares for each share owned if the stock split proposal is approved by shareholders at the annual meeting. A stock split increases the number of a company’s shares to boost liquidity. Although the number of shares outstanding increases, the total dollar value of all shares outstanding remains the same because a split does not change the company’s value.

Who Is the CEO of Chipotle Mexican Grill?

Brian Niccol is Chairman of the Board of Directors and Chief Executive Officer for Chipotle Mexican Grill.

When Did Chipotle Go Public?

Chipotle’s Initial Public Offering (IPO) occurred on Jan. 26, 2006.

The Bottom Line

Chipotle Mexican Grill Inc. was founded by Steve Ells in 1993. As of 2024, Brian Niccol is the company’s Chairman of the Board of Directors and Chief Executive Officer. The top shareholders of Chipotle include Montgomery Moran, Steve Ells, Vanguard Group, and BlackRock.

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