Chipotle Mexican Grill (NYSE: CMG) made waves this week with the announcement of its first-ever stock split. But this isn't any old stock split; it's one of the largest in market history, splitting each share into 50 pieces. It's been a long time coming; Chipotle stock has traded at a four-digit price tag for about four years, and it's gained about 175% in that time, almost tripling in price.

Let's go through the reasons Chipotle is splitting its stock, and whether or not the stock is a buy right now.

Although stock splits have become popular for public companies when their stock price becomes very high, they don't change anything essential about the stock or the company. They just divide the same-sized pie into more and smaller pieces.

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Source Fool.com