Morgan Stanley analysts expect Chipotle to double its number of locations in coming years, Business Insider reports. The Mexican Grill boasts over 1,700 venues and hundreds of new locations under development.
Chipotle Chairman and Chief Executive Officer is reported to have sold over 10,000 shares of the company. It's largest owner, Burnham Asset Management Corp Ny, owns 25,092 shares of the company.
The chain is considered to be one of the fastest-growing restaurant brands in the United States.
Chipotle's net income increased by 27 percent to $140.2 million ($4.45 per share) in the second quarter of fiscal year 2015, Bloomberg reports. The company's figures surpassed analyst estimates by two cents per share.
Although Chipotle has spent more money on high-quality ingredients in recent months, it has made up for increased expenditure by hiking up its prices. This has witnessed a 4.3 percent rise in sales.
"They have a lot at their disposal to drive same-store sales," BTIG analyst Peter Saleh told Bloomberg.
"They still have room to raise prices."
The company was founded in 1993.
