Run by way of portfolio supervisor Will Danoff, Contrafund
mentioned holding approximately 790,177 shares in Chipotle on the cease of
August. That became down from about 980,000 stocks in the preceding month, in
keeping with constancy fund disclosures.
fidelity become not right away to be had for comment.
Contrafund's decreased publicity comes as activist investor
bill Ackman works to revive the chain's sales. in advance this month, Ackman's
Pershing square hedge fund disclosed a nine.nine percent stake in Chipotle.
since the stop of 2015 whilst Contrafund held about 1.95
million Chipotle stocks really worth $934 million, Danoff has reduce the stake
by means of 59 percent.
Chipotle is struggling to revive income after meals-borne
contamination outbreaks hit the chain. Its proportion price is down 41
percentage in the past yr, buying and selling up 1.2 percent on Friday
afternoon at $425.seventy four.
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