Bank of Montreal Can Has $1.33 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Bank of Montreal Can lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 82.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,974 shares of the company's stock after selling 47,972 shares during the period. Bank of Montreal Can's holdings in Churchill Downs were worth $1,332,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHDN. Vanguard Group Inc. raised its stake in Churchill Downs by 1.6% in the fourth quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company's stock valued at $909,183,000 after purchasing an additional 107,737 shares in the last quarter. FMR LLC raised its position in shares of Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company's stock valued at $479,687,000 after buying an additional 214,694 shares in the last quarter. Boston Partners lifted its holdings in shares of Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after acquiring an additional 366,283 shares during the period. Schroder Investment Management Group boosted its position in shares of Churchill Downs by 5.4% during the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company's stock worth $201,223,000 after acquiring an additional 77,213 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Churchill Downs by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company's stock valued at $174,917,000 after acquiring an additional 10,018 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CHDN shares. Mizuho reduced their target price on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating on the stock in a report on Tuesday. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday, April 8th. JMP Securities reissued a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Finally, Barclays started coverage on shares of Churchill Downs in a research report on Friday, April 11th. They set an "overweight" rating and a $125.00 price objective for the company. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the company. According to MarketBeat, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average price target of $150.90.

Churchill Downs Trading Up 2.9 %

NASDAQ:CHDN traded up $3.02 during mid-day trading on Wednesday, hitting $106.02. 102,508 shares of the company's stock were exchanged, compared to its average volume of 506,445. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a market capitalization of $7.79 billion, a P/E ratio of 18.67, a PEG ratio of 2.95 and a beta of 0.86. The company has a 50 day simple moving average of $110.05 and a 200-day simple moving average of $125.90.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.23%. Churchill Downs's payout ratio is presently 7.04%.

Churchill Downs declared that its board has initiated a stock repurchase program on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's board believes its shares are undervalued.

Churchill Downs 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.