Bill Ackman Cuts Chipotle Stake Right Before Stock Drop: Did Billionaire See What The Market Couldn't?
Bill Ackman Cuts Chipotle Stake Right Before Stock Drop: Did Billionaire See What The Market Couldn't?
Since July 1, Chipotle's share price has declined by 17%, setting it on course for its worst quarter since the first quarter of 2020, when it fell 22%.Billionaire hedge fund manager Bill Ackman strategically reduced his stake in Chipotle Mexican Grill Inc. (NYSE:CMG) just before the restaurant chain's recent stock selloff and CEO departure.
亿万富翁对冲基金经理比尔·阿克曼在餐厅连锁店Chipotle Mexican Grill Inc.（纽交所：CMG）最近的股票抛售和首席执行官离任之前有策略地减少了他的持股。
Ackman's move comes at a critical juncture, suggesting his knowledge of Chipotle's business dynamics gave him an edge over the broader market.
阿克曼的行动在一个关键时刻发生，表明他对Chipotle的业务动态有了比整个市场更好的了解。
What Happened: The restaurant chain, known for its burritos, is witnessing the worst quarter in more than four years.
以卷饼著称的餐馆连锁店目前正在经历四年多以来最糟糕的一个季度。
Since July 1, Chipotle's share price has declined by 17%, setting it on course for its worst quarter since the first quarter of 2020, when it fell 22%.
自7月1日以来，Chipotle的股价下跌了17%，这将使其陷入自2020年第一季度以来最差的季度，当时下跌了22%。
Despite Chipotle reporting stronger-than-expected revenue and earnings last quarter, the market's reaction to the results was negative, with the stock falling 1.9% on the day after as the company's management chose to hold steady its annual guidance and signaled potential near-term pressures on margins.
尽管Chipotle上季度营收和利润超出预期，但市场对结果的反应却是负面的，股票在公司管理层选择保持年度指导并暗示短期潜在利润压力之后，在当天下跌了1.9%。
On Aug. 13, the restaurant chain took a significant hit, plunging 7.5% — its worst single-day drop in over a year —following the announcement that Brian Niccol, the CEO credited with much of Chipotle's recent success, would be leaving to take the helm at Starbucks Inc. (NYSE:SBUX).
8月13日，这家餐馆连锁店受到重创，暴跌7.5%，创下一年多以来的最大单日跌幅，原因是公司宣布Brian Niccol，即Chipotle最近成功的CEO将离开，担任星巴克公司（纽交所：SBUX）的领导。
Chipotle's Chief Operating Officer Scott Boatwright was named Interim CEO.
Chipotle的首席运营官Scott Boatwright被任命为临时CEO。
Ackman Adjusts: According to the latest 13F filings, Ackman's Pershing Square Capital Management, L.P. sold 8.38 million shares of Chipotle during the second quarter of 2024. That's a 23% reduction in his overall position compared to the end of the first quarter.
根据最新的13F文件，阿克曼的Pershing Square Capital Management，L.P.在2024年第二季度期间出售了838万股Chipotle。与第一季度末相比，他的整体持仓减少了23%。
The shares were sold at an average price of $60.40, locking in substantial gains before the market downturn. Chipotle shares delivered a robust year-to-date performance of 37% through the end of June. It marked seven consecutive months of gains until April.
这些股票的平均价格为60.40美元，在市场下跌之前获得了可观的收益。Chipotle的股价在截至6月底的全年表现强劲，上涨了37%。这标志着七个连续月的涨幅，直到4月份。
Ackman first invested in Chipotle back in 2016. He acquired a $234.8 million stake that represented 4.3% of his overall portfolio at the time. Since then, he steadily increased his position. This culminated in a $2.1 billion stake at the end of the first quarter 2024. Chipotle remained his largest holding until it was overtaken by Hilton Worldwide Holdings Inc. (NYSE:HLT).
阿克曼于2016年首次投资于Chipotle。当时他收购了2.348亿的股份，占他当时整个投资组合的4.3%。自那以后，他稳步增加了他的投资，这导致他在2024年第一季度末持有21亿的股份。Chipotle仍然是他的最大持仓，直到被希尔顿环球控股公司（纽交所：HLT）超过为止。
Chipotle's weight in Pershing Square's portfolio decreased from 20.1% to 17.33% between the first two quarters of 2024.
在2024年第一季度的前两个季度之间，Chipotle在Pershing Square的投资组合中的占比从20.1%降至17.33%。
The timing of this adjustment proved to be impeccable, as the restaurant chain's stock has since experienced a notable decline
这一调整的时机被证明是恰当的，因为这家餐厅连锁店的股票此后经历了显着的下跌。
Still, the average purchase price of all Chipotle shares owned by Pershing Square is $8.72. When compared to the current market price of $52, the return on investment has been nearly 500%.
然而，Pershing Square拥有的所有Chipotle股票的平均购买价格为8.72美元。与当前市场价格52美元相比，投资回报率已近500%。
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