CMG - Chipotle's Stock Split Is Complete. Here's What to Expect for the Rest of 2024.
2024-07-13 18:21:00 ET
Chipotle Mexican Grill (NYSE: CMG) has been an investor favorite for years, but it received special attention this year after announcing a 50-for-1 stock split . That's one of the biggest splits ever, and with the shares' four-figure price tag prior to the split, it made a lot of sense.
It went through in June, and Chipotle stock dropped slightly afterward. It trades at $57.50 per share as of this writing, but that's still a 26% gain year to date. What else can investors expect after the split?
Chipotle reliably reports double-digit sales growth quarterly, and it's usually driven by new stores and growth in comparable-store sales (comps) . Revenue increased 14% year over year in the 2024 first quarter with a 7% increase in comps. Management is guiding for similar results for the full year.
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Chipotle's Stock Split Is Complete. Here's What to Expect for the Rest of 2024.