12 Best Restaurant Stocks to Buy According to Hedge Funds

2. Chipotle Mexican Grill, Inc. (NYSE:CMG)

Number of Hedge Fund Holders: 83

Chipotle Mexican Grill, Inc. (NYSE:CMG) is the largest fast-casual restaurant chain in the United States, with a projected systemwide sales of $11.3 billion by 2024. The firm has 3,726 locations across the US by the end of 2024, with a smaller presence in Canada, the UK, France, and Germany. The restaurant offers tacos, quesadillas, burritos, burrito bowls, and beverages. Delivery fees and restaurant sales provide all of the company’s income. It is among the Best Restaurant Stocks.

Chipotle Mexican Grill, Inc. (NYSE:CMG)’s recent quarter saw strong growth, with sales rising more than 6% year over year to $2.9 billion, even if comparable sales slightly decreased by 0.4%. Digital sales continued to play an important role, accounting for 35.4% of total revenue and emphasizing the company’s digital strategy. The quarter saw the debut of 57 new restaurants, including 48 Chipotle lanes that facilitate quick digital order pickup, showing the continued strength of expansion efforts. The introduction of Chipotle Honey Chicken proved to be the company’s most successful limited-time offer to date.

In terms of international expansion, Chipotle Mexican Grill, Inc. (NYSE:CMG) has opened five locations in the Middle East and formed a new development partnership in Mexico. Fortune has named the company one of the most admired in the world, praising its outstanding benefits package, work environment, and dedication to professional development.