Carillon Tower Advisers: “Chipotle (CMG) Outperformed, Driven by Strong Quarterly Results”

Carillon Tower Advisers, an investment management firm, released its “Carillon Eagle Mid Cap Growth Fund” second quarter 2023 investor letter, a copy of which can be downloaded here. For the second quarter of 2023, Carillon Eagle Mid Cap Growth Fund reported total net assets of $6.46 billion, and investments in shares of 87 distinct companies. Take a moment to explore the Carillon Eagle Mid Cap Growth Fund’s top 5 holdings for insights into their key investment choices in 2023.

In its Q2 2023 investor letter, Carillon Eagle Mid Cap Growth Fund mentioned Chipotle Mexican Grill, Inc. (NYSE:CMG) and explained its insights for the company. 1993, Chipotle Mexican Grill, Inc. (NYSE:CMG) is a Newport Beach, California-based restaurant company with a $53.4 billion market capitalization. Chipotle Mexican Grill, Inc. (NYSE:CMG) delivered a 39.72% return since the beginning of the year, while its 12-month returns are up by 19.92%. The stock closed at $1,938.61 per share on September 01, 2023.

Here is what Carillon Eagle Mid Cap Growth Fund has to say about Chipotle Mexican Grill, Inc. (NYSE:CMG) in its Q2 2023 investor letter:

“Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates Mexican restaurants. The stock outperformed, driven by strong quarterly results. The company is seeing accelerating traffic gains coupled with margin expansion.”

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Our calculations show that Chipotle Mexican Grill, Inc. (NYSE:CMG) fell short and didn’t make it on our list of the 30 Most Popular Stocks Among Hedge Funds. Chipotle Mexican Grill, Inc. (NYSE:CMG) was in 55 hedge fund portfolios at the end of the second quarter of 2023, compared to 47 funds in the previous quarter. Chipotle Mexican Grill, Inc. (NYSE:CMG) delivered a -5.99% return in the past 3 months.

We also discussed Chipotle Mexican Grill, Inc. (NYSE:CMG) in another article. You can find other investor letters from hedge funds and prominent investors on our hedge fund investor letters Q2 2023 page.

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Disclosure: None. This article is originally published at Insider Monkey.