Do You Believe in the Growth Prospects of Chipotle Mexican Grill (CMG)?

Carillon Tower Advisers, an investment management company, released its “Carillon Eagle Mid Cap Growth Fund” third quarter 2023 investor letter. A copy of the same can be downloaded here. In the third quarter, mid-cap stocks had negative returns, reversing their positive returns in the first half of the year. The Russell Midcap Growth Index was down 5.22% slightly trailing the Russell Midcap Value Index which was down 4.46%. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.

Carillon Eagle Mid Cap Growth Fund highlighted stocks like Chipotle Mexican Grill, Inc. (NYSE:CMG) in the third quarter 2023 investor letter. Headquartered in Newport Beach, California, Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates Chipotle Mexican Grill restaurants.   On October 25, 2023, Chipotle Mexican Grill, Inc. (NYSE:CMG) stock closed at $1,841.87 per share. One-month return of Chipotle Mexican Grill, Inc. (NYSE:CMG) was -0.50%, and its shares gained 24.72% of their value over the last 52 weeks. Chipotle Mexican Grill, Inc. (NYSE:CMG) has a market capitalization of $50.54 billion.

Carillon Eagle Mid Cap Growth Fund made the following comment about Chipotle Mexican Grill, Inc. (NYSE:CMG) in its Q3 2023 investor letter:

“Chipotle Mexican Grill, Inc. (NYSE:CMG) owns and operates fast-casual Mexican food restaurants. The stock underperformed as quarterly same-store sales came in slightly below inflated expectations. Despite the market’s reaction, overall fundamentals remain solid with positive traffic growth and provide the company with the ability to raise prices moving forward.”

A chef plating up a wide variety of dishes for a restaurant chain. Editorial photo for a financial news article. 8k. –ar 16:9

Chipotle Mexican Grill, Inc. (NYSE:CMG) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held Chipotle Mexican Grill, Inc. (NYSE:CMG) at the end of second quarter which was 47 in the previous quarter.

We discussed Chipotle Mexican Grill, Inc. (NYSE:CMG) in another article and shared the list of stocks with huge catalysts on the way. In addition, please check out our hedge fund investor letters Q3 2023 page for more investor letters from hedge funds and other leading investors.

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