Why Is Chipotle Stock the Largest Holding for Billionaire Bill Ackman?
Bill Ackman is one of the world's most famous investors. The CEO of Pershing Square Capital Management has been dubbed "Baby Buffett" in the past. And, among other things, he's known for turning $27 million into $2.6 billion in the early stages of the pandemic by buying hedges on bond prices crashing, which paid off when markets plunged in March 2020.
Ackman has made plenty of other successful investments, and one of his best stock purchases has been Chipotle Mexican Grill (NYSE: CMG), the fast-casual burrito chain. Currently, the high-flying restaurant stock appears to be Ackman's biggest holding after jumping 26% year to date, outperforming Alphabet, which was just ahead of Chipotle as his biggest holding at the end of the fourth quarter. However, Alphabet stock has only gained 12% this year, which has given Chipotle the lead.
Ackman started buying Chipotle in the third quarter of 2016, meaning he's gained nearly 600% on the stock since his first investment. The Pershing Square chief first bought Chipotle when it was still down from the E. coli scandal, calling it "extremely cheap," and he correctly bet on a recovery. Here's why he likes it.
Source Fool.com
Chipotle Mexican Grill Inc. Stock
With 58 Buy predictions and 1 Sell predictions Chipotle Mexican Grill Inc. is one of the favorites of our community.
As a result the target price of 3085 € shows a slightly positive potential of 6.27% compared to the current price of 2903.0 € for Chipotle Mexican Grill Inc..
