>>> Chipotle (NYSE:CMG) has been a top-performing stock as more consumers look for healthier alternatives. The company is in expansion mode as it aims to open 285-315 new restaurants in 2024. The midpoint of 300 new restaurants is a notable increase from the 271 restaurants Chipotle opened in 2023.
The company has the financial strength to gain more market share. Chipotle increased its revenue by 15.4% year-over-year while delivering a 26.1% year-over-year boost in net income. The company now has a net profit margin in the double digits.
Chipotle has been rapidly gaining market share in the fast food industry, and its stock price has followed suit. Shares are up by 78% over the past year and have registered a 335% gain over the past five years. Those stock gains outperform most of the Magnificent Seven growth stocks.
Demand for Chipotle’s food has only strengthened. Expanding its horizons and starting up additional restaurants will help the company reward long-term investors.
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