Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Barclays PLC

Barclays PLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 59.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,584 shares of the company's stock after acquiring an additional 11,006 shares during the quarter. Barclays PLC's holdings in Churchill Downs were worth $4,000,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs in the 2nd quarter valued at $42,000. UMB Bank n.a. raised its position in Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after purchasing an additional 255 shares during the period. Venturi Wealth Management LLC lifted its stake 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. Canada Pension Plan Investment Board purchased a new stake in shares of Churchill Downs in the second quarter worth about $112,000. Finally, Quarry LP boosted its position in shares of Churchill Downs by 957.5% in the third quarter. Quarry LP now owns 846 shares of the company's stock worth $114,000 after buying an additional 766 shares during the period. Hedge funds and other institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

CHDN has been the subject of a number of analyst reports. Mizuho decreased their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Truist Financial restated a "buy" rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $160.88.

Churchill Downs Stock Performance

Shares of CHDN stock traded down $0.14 on Monday, hitting $132.09. 367,166 shares of the stock traded hands, compared to its average volume of 434,005. The company has a market capitalization of $9.71 billion, a PE ratio of 24.06, a PEG ratio of 3.84 and a beta of 0.95. The company's fifty day moving average is $139.35 and its 200 day moving average is $138.61. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 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, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to analysts' expectations of $627.90 million. During the same period in the prior year, the company earned $0.87 earnings per share. The firm's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a $0.409 dividend. This is an increase from Churchill Downs's previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs's payout ratio is presently 7.29%.

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.