Jim Cramer’s Latest Game Plan: 20 Stocks to Watch

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

Number of Hedge Fund Holders: 68

Chipotle Mexican Grill, Inc. (NYSE:CMG) will announce its third-quarter earnings results on October 29. Cramer thinks that the company will do fine despite its CEO leaving.

“Chipotle reports too. Without Brian Niccol’s move in to try to fix Starbucks, I think Chipotle will be fine. I don’t know if it can break out from the 50s, stock feels trapped, doesn’t it? But the announcement of a permanent CEO could work some wonders here.”

Chipotle Mexican Grill (NYSE:CMG) operates a chain of restaurants that specialize in a variety of Mexican-inspired dishes, including burritos, burrito bowls, quesadillas, tacos, and salads. With over 3,400 locations globally, the company has established a significant presence in the fast-casual dining segment.

Following a leadership transition, Scott Boatwright has been appointed as the interim CEO. Having been with the company for seven years as chief operating officer, Boatwright is expected to maintain continuity in the company’s long-term growth strategies. The company aims for an annual growth rate of 8% to 10% moving forward.

On October 2, Chipotle Mexican Grill (NYSE:CMG) continued its international expansion by opening its first restaurant in Dubai, collaborating with Alshaya Group, a prominent international franchise operator. The company’s existing international footprint includes 47 locations in Canada, 20 in the United Kingdom, six in France, and two in Germany.

In North America, the company operates more than 3,500 restaurants and plans to ensure that at least 80% of its new locations feature a Chipotlane, a drive-thru pickup lane designed to enhance customer convenience. For 2024, it has set a goal to open between 285 and 315 new restaurants, with an ambitious long-term target of reaching 7,000 locations in North America.