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HomeInvestingChipotle stock split is almost official: Here’s what that means

Jun. 26, 2024 at 3:55 pm

Chipotle stock split is almost official: Here’s what that means

June 26, 2024no commentaccess:free ssts:money:investing sstsn:Investing tag:Central Region tag:Chipotle Mexican Grill tag:Company News tag:Cuisines tag:East Region tag:Fast Food tag:Financial Markets News tag:Investing and Investments tag:Modular Story tag:Network trending tag:Overall Neutral tag:Restaurants tag:Stock Market and Stocks tag:Stocks & Bonds tag:West Region type:story

Chipotle shareholders will have more than queso in their accounts as the company’s stock split is set to take effect after the close of trading Tuesday.

The 50-for-one split is one of the largest in Wall Street history and is aimed at making the fast-casual titan’s shares more affordable, according to Chipotle officials.

“We believe the stock split will make our stock more accessible to our employees as well as a broader range of investors,” Jack Hartung, Chipotle’s chief financial and administrative officer, said in a statement.

Should you buy them?Stock splits make Nvidia and Chipotle shares more affordable

The move is a sign of strength as other long beloved restaurant chains face harsh headwinds and store closures.

Here’s what you need to know about the Chipotle stock split.

When was Chipotle’s stock split recorded?

Investors were required to hold shares by the end of the trading day on June 18 to be included in the split.

Those who hold shares will receive 49 additional shares for every one held after the close of trading on Tuesday. Share prices are divided on an equivalent basis, so the split does not directly change an investment’s total dollar value.

Trading on the split basis will begin at start of trading Wednesday.

Chipotle stock

Chipotle’s stock closed at $3,193.74 per share on Monday. If the price were to be the same at the end of trading Tuesday, the stock would be valued at $63.87 per share.

The stock has been on a rollercoaster since the split was approved on June 6, hitting a high of $3,427.61 per share on June 18 before tumbling below the $3,200 mark Monday.

Chipotle reported $2.7 billion in revenue and a 16.3% operating profit margin when it announced first-quarter results in April.

The company opened 47 restaurants in the quarter with 43 locations having “Chipotlane” drive-thrus.

Tags :access:free ssts:money:investing sstsn:Investing tag:Central Region tag:Chipotle Mexican Grill tag:Company News tag:Cuisines tag:East Region tag:Fast Food tag:Financial Markets News tag:Investing and Investments tag:Modular Story tag:Network trending tag:Overall Neutral tag:Restaurants tag:Stock Market and Stocks tag:Stocks & Bonds tag:West Region type:story

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AndreJune 26, 2024

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