Chipotle Mexican Grill (CMG) has opened its 4,000th restaurant location, marking a significant milestone in its aggressive expansion strategy.
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CMG stock closed 4% higher on Dec. 12 amid reports of the company’s newest restaurant opening in Manhattan, Kansas. The 4,000th outlet features Chipotle’s signature Chipotlane drive-thru and the company’s new High-Efficiency Equipment Package that improves cooking times and increases production and efficiency.
Management at Chipotle said in a news release that they are now more than halfway toward their long-term goal of operating 7,000 restaurants across the U.S. and Canada. Since CEO Scott Boatwright joined the company in 2017, Chipotle has added 1,700 new locations, representing a 70% increase in its restaurant footprint.
To commemorate the 4,000-restaurant opening, Chipotle’s executive leadership team rang the opening bell at the New York Stock Exchange.
Chipotle’s Growth Plans
The Newport Beach, California-based company plans to open between 315 and 345 new restaurants for all of this year, with at least 80% featuring Chipotlanes. In 2026, management anticipates opening 350 to 370 new locations, including 10 to 15 international restaurants outside the U.S.
Chipotle’s international presence now includes over 100 restaurants outside America, with 75 in Canada, 28 in Europe, and 11 locations in the Middle East. The company recently opened its first Chipotlane outside North America in Kuwait, and has signed agreements to expand into Mexico, South Korea, and Singapore next year.
Is CMG Stock a Buy?
The stock of Chipotle Mexican Grill has a consensus Strong Buy rating among 25 Wall Street analysts. That rating is based on 19 Buy and six Hold recommendations issued in the last three months. The average CMG price target of $45.74 implies 26.56% upside from current levels.
