money

Chipotle shareholders qualify for 50-to-1 stock split by end of Tuesday

Chipotle investors holding stock after Tuesday are in line for a split.

Published June 17, 2024 at 5:04pm by James Powel

Investors Bite into Chipotle's Historic Stock Split, As Shares Serve Up Tasty Returns

Chipotle Stock Split:

Shareholders of record on June 18 will be included in Chipotle's 50-for-1 stock split, the first in the company's history and one of the largest ever.
Aim: to improve stock affordability for employees and a broader range of investors, per CFO Jack Hartung. https://ir.chipotle.com/2024-06-06-CHIPOTLE-SHAREHOLDER-APPROVAL-PAVES-WAY-FOR-HISTORIC-50-FOR-1-STOCK-SPLIT
Investors holding stock by EOD Tuesday, June 18, will have their shares split.
For every share held, 49 additional shares will be received after the June 25 close, with trading on this basis from June 26.

Chipotle's Stock Performance & Earnings:

Stock closed at $3,365.46 Monday, up 2.87%.
If the split occurred at Monday's close, share value would be ~$67.
Chipotle reported strong Q1 results in April: revenue of $2.7 billion and a 16.3% operating profit margin. https://ir.chipotle.com/2024-04-24-CHIPOTLE-ANNOUNCES-FIRST-QUARTER-2024-RESULTS
47 new restaurants opened in Q1, with 43 featuring "Chipotlane" drive-thrus.