Chipotle shareholders have given their approval for the company's historic 50-for-1 stock split at the annual meeting held on June 6, 2024. The stock split, one of the biggest in New York Stock Exchange history, is set to take place on June 25. This move has generated excitement among investors, prompting the question of whether Chipotle stock is now a buy.

The process of the stock split involves several key dates that shareholders need to remember. The first notable date was the annual meeting where shareholders cast their votes, leading to the approval of an increase in the number of authorized shares of Chipotle common stock. This approval marks a significant milestone in the stock split process.

The second key date is the record date, which falls on June 25. Shareholders who are recorded as of the close of business on this date will be eligible to participate in the stock split. For every share they currently own, shareholders will receive 49 additional shares.

The third key date is the distribution date, also on June 25, where shareholders will receive the newly minted shares. These additional shares will be automatically deposited into their brokerage accounts after the market closes. It is important to note that the timeline for this process may vary depending on the brokerage, leading to a potential lag before the shares appear in investors' accounts.

On June 26, Chipotle's stock will officially begin trading on a split-adjusted basis. It is expected that the shares will trade at approximately one-fiftieth of the price before the split. Therefore, investors who previously owned a single share worth $3,250 will now own 50 shares valued at around $65 each.

Despite Chipotle's impressive performance, climbing 43% this year and boasting a remarkable return of over 14,742% since its IPO in 2006, the question remains whether the stock is still a smart investment. The recent financial report highlights further growth opportunities for the company. In the first quarter, Chipotle saw a 14% year-over-year increase in revenue, resulting in diluted earnings per share of $13.01, a 24% rise.

Chipotle's comparable restaurant sales also showed positive growth, with a 7% increase driven by a 5% jump in transactions and a 2% increase in average check. Additionally, the company continues to expand its footprint, with a target of 7,000 locations in North America. While international growth is currently taking a back seat to domestic expansion, there is still significant potential for Chipotle in overseas markets.

Analysts at Goldman Sachs have labeled Chipotle a "top idea" and assigned a buy rating with a price target of $3,730, suggesting a potential gain of 18% over the next year. This is in line with the overall bullish sentiment on Wall Street, as analysts recognize Chipotle's ability to efficiently scale its business without sacrificing quality or customer experience.

Overall, the approval of Chipotle's historic stock split signals a promising future for the company. With strong financial results, ample growth opportunities, and positive assessments from analysts, investors may find that Chipotle's stock still offers a compelling opportunity for long-term growth.