Chipotle Mexican Grill Inc.’s historic stock-split proposal spotlights the enormity of this year’s bull run by showing the lengths the fast-food chain must go to bring its shares within reach of those who enjoy its affordable burritos.
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While the move won’t change anything about the company except for its price per share, it still caused excitement: Chipotle shares rallied to fresh highs, building on a record-breaking run that has sent the stock up more than 26% this year. The two S&P 500 companies that split their stocks this year had similar explanations. Cooper Cos. Inc., which sells health-care products including contact lenses, enacted a 4-for-1 split in February. Discount-retail behemoth Walmart Inc. followed soon behind with a 3-for-1 split. Old Dominion Freight Line then announced a 2-for-1 split that is set to take place at the end of March.
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