Investors looking for a long-term compounder should consider Chipotle Mexican Grill (NYSE:CMG). After the company’s recent 50-for-1 stock split Chipotle stock looks like a buy.

The restaurant chain that specializes in Mexican cuisine and known for fresh ingredients just executed the first stock split in its history, and the move has made the shares the most affordable they’ve been in more than a decade.

Before the split, one share of CMG stock cost more than $3,200. Now, investors can buy shares for $61 each. This presents an opportunity to take a position in a leading growth stock that has an impressive track record of delivering gains to shareholders.

Chipotle Stock Split

Chipotle’s 50-for-1 stock split, executed on June 26, was one of the largest in the New York Stock Exchange’s history. While the split hasn’t changed the fundamentals or underlying value of Chipotle stock, it has made the shares more accessible to retail investors.

Since the stock split occurred, Chipotle stock has pulled back 7% as some investors used the split as an opportunity to sell shares and lock in gains. But the recent dip presents one more reason to buy the stock.

Chipotle stock has been a long-term winner for shareholders. Since going public in 2006, CMG stock has grown over 7,200%, pushing its price above $3,000 before the split.

In the last 12 months, the stock has increased 45%. The steady growth is the result of strong financial results and a consistent expansion of the company’s restaurants over the years.

While some analysts complain that Chipotle stock trades at a high multiple of 65 times earnings, it reflects the company’s success.

Strong Earnings

Chipotle Mexican Grill’s exceptional first-quarter financial results and bullish forward guidance were typical of what to expect from the company.

Newport Beach, California-based Chipotle reported Q1 EPS of $13.37 compared to $11.68 that was forecast on Wall Street.

Revenue in the period amounted to $2.70 billion versus $2.68 billion that was the consensus expectation of analysts. Sales were up 14% from a year earlier.

Chipotle said that its same-store sales rose 7%, beating estimates of 5.2% growth. The company has managed to report increased customer traffic despite higher menu prices.

The company has also been working to make its food items more quickly, improving the industry metric known as “throughput.” Management said that Chipotle’s throughput reached its highest level in four years during Q1.

Continued Growth

The restaurant chain also continues to grow, adding 47 new locations during the quarter and moving closer to its goal of doubling its total number of restaurants to 7,000 outlets.

In terms of guidance, Chipotle said that it anticipates same-store sales growth in the mid-to-high single-digit percentage and reiterated its forecast of 285 to 315 new store openings this year.

There has been a backlash against Chipotle online recently over claims that the company has shrunk its food portions, they appear to have had no significant impact. The portion debate doesn’t affect Chipotle’s long-term growth potential.

Buy Chipotle Stock

For nearly 20 years, Chipotle has been one of the best stocks investors can own. Beyond being one of the best restaurant stocks, Chipotle has proven to be one of the very best growth stocks investors can hold in their portfolio.

Well-run with a continued focus on growth, Chipotle continues to surpass Wall Street expectations. The recent 50-for-1 stock split has made the shares more affordable and put them within reach of most investors.

People should take advantage of the opportunity and buy Chipotle stock.

On the date of publication, Joel Baglole did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.