Hedge Funds Only Like One Of These Two Upgraded Restaurant Stocks

Chipotle Mexican Grill, Inc. (NYSE:CMG)‘s shares are up by 5% year-to-date as investors remain bullish on the company’s long-term prospects. Although the domestic market is increasingly saturated, Chipotle has substantial room to grow internationally. The analysts at SunTrust are among those optimists and believe Chitpole has plenty of levers management can pull to increase demand. They are also optimistic about Chitpole’s new ShopHouse and Pizzeria Locale brands and think Chiptole’s solid growth will continue.

According to our data, hedge funds were bearish on Chipotle Mexican Grill, Inc. (NYSE:CMG) in the second quarter. A total of 36 funds reported holding stakes worth $884.43 million, amounting to 4.70% of the outstanding shares, versus 37 funds with ownership of $1.15 billion in shares a quarter earlier. Jim Simons’ Renaissance Technologies owns 313,500 shares while Ken Griffin‘s Citadel Investment Group owns a put options position underlying 322,700 shares.

Disclosure: None