B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 17,404 Churchill Downs Incorporated (NASDAQ:CHDN)

B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 17,404 shares of the company's stock, valued at approximately $2,353,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Winslow Asset Management Inc. grew its stake in Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company's stock valued at $443,000 after acquiring an additional 90 shares during the period. Venturi Wealth Management LLC increased its position in shares of Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company's stock worth $104,000 after purchasing an additional 90 shares in the last quarter. First Horizon Advisors Inc. raised its stake in Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company's stock valued at $114,000 after purchasing an additional 99 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings in Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company's stock valued at $986,000 after purchasing an additional 105 shares in the last quarter. Finally, Arizona State Retirement System boosted its stake in Churchill Downs by 0.6% during the 2nd quarter. Arizona State Retirement System now owns 18,564 shares of the company's stock worth $2,592,000 after purchasing an additional 114 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 0.4 %

Churchill Downs stock traded down $0.51 during midday trading on Friday, reaching $141.87. 299,219 shares of the stock traded hands, compared to its average volume of 435,817. The firm has a market cap of $10.43 billion, a PE ratio of 25.84, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a 50-day simple moving average of $139.05 and a two-hundred day simple moving average of $138.00. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. During the same quarter last year, the firm posted $0.87 earnings per share. The business's revenue for the quarter was up 9.8% compared to the same quarter last year. Research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. This is a positive change from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio is currently 6.92%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on CHDN. JMP Securities reissued a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Truist Financial reissued a "buy" rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho dropped their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. Finally, Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the company an "outperform" rating in a report on Friday, July 26th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $160.88.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through three segments: Live and Historical Racing, TwinSpires, and Gaming. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sports books; casino gaming; and Terre Haute Casino Resort.