Bank of New York Mellon Corp Buys 13,053 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Bank of New York Mellon Corp grew its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 2.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 602,701 shares of the company's stock after acquiring an additional 13,053 shares during the period. Bank of New York Mellon Corp owned 0.82% of Churchill Downs worth $80,485,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of CHDN. Creative Planning boosted its stake in Churchill Downs by 15.4% in the third quarter. Creative Planning now owns 4,655 shares of the company's stock worth $629,000 after purchasing an additional 620 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Churchill Downs by 15.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 8,526 shares of the company's stock worth $1,152,000 after buying an additional 1,165 shares in the last quarter. New York State Teachers Retirement System lifted its position in Churchill Downs by 6.7% during the 3rd quarter. New York State Teachers Retirement System now owns 58,971 shares of the company's stock worth $7,973,000 after buying an additional 3,727 shares in the last quarter. Harbor Capital Advisors Inc. grew its holdings in Churchill Downs by 127.6% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 45,202 shares of the company's stock worth $6,112,000 after acquiring an additional 25,345 shares during the last quarter. Finally, Amalgamated Bank increased its position in Churchill Downs by 2.7% in the 3rd quarter. Amalgamated Bank now owns 35,788 shares of the company's stock valued at $4,839,000 after acquiring an additional 934 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on CHDN. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho lowered their target price on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. Stifel Nicolaus cut their price target on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Finally, Wells Fargo & Company decreased their price target on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $159.38.

Churchill Downs Trading Down 0.4 %

Shares of Churchill Downs stock traded down $0.50 during trading on Thursday, hitting $114.02. 128,004 shares of the company were exchanged, compared to its average volume of 467,059. The firm has a market capitalization of $8.39 billion, a P/E ratio of 20.04, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The firm's fifty day moving average price is $124.58 and its 200 day moving average price is $133.60. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21.

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

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. Churchill Downs's payout ratio is currently 7.04%.

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.