Current:Home > FinanceChipotle stock split takes effect Tuesday. Here's how it will affect investors-DB Wealth Institute B2 Reviews & Ratings
Chipotle stock split takes effect Tuesday. Here's how it will affect investors
lotradecoin desktopapp View Date:2024-12-25 15:53:10
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.
veryGood! (11578)
Related
- White House says deals struck to cut prices of popular Medicare drugs that cost $50 billion yearly
- Mike Tyson vs. Jake Paul date, time: How to buy Netflix boxing event at AT&T Stadium
- Republicans try to hold onto all of Iowa’s 4 congressional districts
- Clemson coach Dabo Swinney challenged at poll when out to vote in election
- Usher concert postponed hours before tour opener in Atlanta
- 4 Democratic US House members face challengers in Massachusetts
- Jaw-Dropping Amazon Fashion Deals: 3 Long-Sleeve Shirts for $19, Plus Up to 69% Off Fall Styles
- 1000-Lb. Sisters’ Tammy Slaton Addresses Rumors Sister Amy Slaton Is Pregnant
- Video shows 2 toddlers in diapers, distraught in the middle of Texas highway after crash
- Salma Hayek reimagines 'Like Water for Chocolate' in new 'complex,' 'sensual' HBO series
Ranking
- NASA Shares Update on Astronauts Stuck Indefinitely in Space
- People — and salmon — return to restored Klamath to celebrate removal of 4 dams
- Democrats in Ohio defending 3 key seats in fight for control of US House
- South Dakota is deciding whether to protect abortion rights and legalize recreational marijuana
- Ex-YouTube CEO Susan Wojcicki dies a year after stepping down. Who is the current CEO?
- Montana Rep. Zooey Zephyr must win reelection to return to the House floor after 2023 sanction
- Za'Darius Smith trade winners, losers: Lions land Aidan Hutchinson replacement
- 10 teams to watch as MLB rumors swirl with GM meetings, free agency getting underway
Recommendation
-
Kim Kardashian Says Her Four Kids Try to Set Her Up With Specific Types of Men
-
Kirk Herbstreit calls dog's cancer battle 'one of the hardest things I've gone through'
-
3-term Democrat Sherrod Brown tries to hold key US Senate seat in expensive race
-
High winds – up to 80 mph – may bring critical fire risk to California
-
Ex-YouTube CEO Susan Wojcicki dies a year after stepping down. Who is the current CEO?
-
What It's Really Like Growing Up As First Kid in the White House
-
Toss-up congressional races in liberal California could determine House control
-
Bernie Marcus, The Home Depot co-founder and billionaire philanthropist, dies at 95