Chipotle Mexican Grill (CMG) stock has seen its first insider buying since the company underwent a CEO transition last year.
Chipotle board member Mauricio Gutierrez paid $500,000 on March 5 for 9,400 shares of CMG stock at an average price of $53 each. Gutierrez now owns 31,400 Chipotle shares in a personal account worth $1.5 million, according to a form filed with the U.S. Securities and Exchange Commission (SEC).
Gutierrez bought CMG stock with the price near its 52-week low of $47.98 per share. The company’s share price has been trending lower ever since retail coffee chain Starbucks (SBUX) poached Chipotle’s former CEO Brian Niccol last summer. Chipotle has since named former Chief Operating Officer (COO) Scott Boatwright as its new CEO.
Buying the Dip
CMG stock has also taken a hit recently as U.S. President Donald Trump enacted sweeping 25% tariffs on imported goods from Mexico and Canada. Chipotle sources its avocados, peppers, and other ingredients from Mexico, and its input costs are expected to rise as a result. CMG stock is currently down 18% so far in 2025.
Gutierrez, the former CEO of NRG Energy (NRG), is taking advantage of the selloff to buy CMG stock on the dip. Gutierrez joined Chipotle’s board of directors in 2021. His recent buy of CMG stock was the first open-market purchase by a company insider since the CEO change, and the first since the end of 2023.
Is CMG Stock a Buy?
The stock of Chipotle Mexican Grill has a consensus Strong Buy rating among 24 Wall Street analysts. That rating is based on 18 Buy and six Hold recommendations issued in the last three months. The average CMG price target of $67.04 implies 35.71% upside from current levels.
