5 Stocks Drawing Attention After Topping Quarterly Expectations

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

Number of Hedge Fund Holders: 31

Shares of Chipotle Mexican Grill, Inc. (NYSE:CMG) jumped over 10 percent on Wednesday, February 9, 2022, following its upbeat financial performance for the fourth quarter. The latest results were mainly helped by price hikes and strong online sales during the quarter.

Chipotle Mexican Grill, Inc. (NYSE:CMG) earned $5.58 per share on an adjusted basis, well above $3.48 per share for the same period of 2020. Analysts were looking for earnings of $5.25 per share.

In addition, Chipotle Mexican Grill, Inc. (NYSE:CMG) posted revenue of $2 billion for the quarter, up 22 percent on a year-over-year basis and in line with the expectations. Comparable restaurant sales also rose 15.2 percent. Moreover, digital sales increased 3.8 percent and represented nearly 42 percent of the total sales.

Looking forward, Chipotle Mexican Grill, Inc. (NYSE:CMG) projected 2022 comparable restaurant sales growth between mid to high single digits range. Moreover, the company plans to open 235 – 250 new restaurants during the current fiscal year.

Speaking on the results, CEO Brian Niccol said:

“2021 was an outstanding year for Chipotle, highlighting the strength and resiliency of our brand. Together, we accomplished many incredible things as our passionate employees remained dedicated to delivering excellent guest experiences, aligned with our purpose and values.”