The biggest shareholder of Chipotle Mexican Grill Inc. stock says the company's stock is "extremely cheap."

People in his office also like the Denver Mexican restaurant chain's new queso menu offering.

Billionaire investor Bill Ackman and his Pershing Square Capital Management investment firm bought about 10 percent of Chipotle's shares last September for more than $400 a share.

He told CNBC yesterday that he think's Chipotle's stock (NYSE: CMG) — currently trading for around $312 — is "extremely cheap" today.

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