5 Stocks to Sell According to Billionaire Daniel Sundheim

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

Number of Hedge Fund Holders: 39

Chipotle Mexican Grill, Inc. (NYSE:CMG) operates fast-food restaurants in the United States. These offer five Mexican foods which are tacos, quesadillas, salads, burritos, and bowls.

D1 Capital sold 102,400 Chipotle Mexican Grill, Inc. (NYSE:CMG) shares during the third quarter of last year. During the second quarter, these were worth $158.7 million and represented 1.03% of its portfolio. A survey of 867 hedge funds conducted by Insider Monkey for Q3 2021 revealed that 39 had owned the company’s shares.

Chipotle Mexican Grill, Inc. (NYSE:CMG) had a strong fiscal third-quarter which saw it beat analyst estimates for both revenue and non-GAAP EPS by posting $1.95 billion and $7.02 in the segments, respectively. JPMorgan raised the company’s price target to $1,750 from $1,710 in December 2021, sharing that the price reflects the company’s market penetration capabilities.

Bill Ackman’s Pershing Square is Chipotle Mexican Grill, Inc. (NYSE:CMG)’s largest investor. It owns a stake of $2 billion through 1 million shares.

“Chipotle Mexican Grill owns and operates fast-casual, fresh Mexican food restaurants. The company reported very strong quarterly earnings and an outlook ahead of investor expectations, sending the stock higher. Chipotle’s business is performing well and is accelerating as consumers return to more normalized levels of in-restaurant dining. Additionally, the company has recently implemented some price increases that give Chipotle the flexibility to successfully navigate the higher commodity and wage cost environment.”