Jim Cramer: Ackman's Chipotle Timing Was Great

Billionaire investor Bill Ackman showed perfect timing when he pulled the trigger on his Chipotle (CMG) - Get Report purchase, said TheStreet's (TST) - Get Report Jim Cramer. Ackman's Pershing Square hedge fund bought a 9.9% stake in Chipotle Mexican Grill, worth $1.2 billion dollars. The investment makes Pershing Square the second largest shareholder of the fast food chain. Ackman is reportedly talking to management about changes he believes are needed at the company. Chipotle sales have suffered after a series of food borne illnesses outbreaks in 15 states.

At the time of publication, Jim Cramer's charitable trust Action Alerts PLUS held no positions in stocks mentioned.