Blair William & Co. IL Decreases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Blair William & Co. IL decreased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 56.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,057 shares of the company's stock after selling 5,202 shares during the quarter. Blair William & Co. IL's holdings in Churchill Downs were worth $542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of the company. Truist Financial Corp increased its stake in Churchill Downs by 22.1% during the 4th quarter. Truist Financial Corp now owns 29,637 shares of the company's stock worth $3,958,000 after buying an additional 5,372 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after acquiring an additional 10,153 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Churchill Downs in the fourth quarter worth approximately $1,927,000. JPMorgan Chase & Co. grew its holdings in Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock worth $24,824,000 after acquiring an additional 12,226 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of Churchill Downs by 4.7% during the 4th quarter. Victory Capital Management Inc. now owns 228,550 shares of the company's stock worth $30,521,000 after purchasing an additional 10,359 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

Analyst Ratings Changes

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

Churchill Downs Stock Performance

Shares of Churchill Downs stock traded up $7.90 during trading on Wednesday, reaching $105.90. The company's stock had a trading volume of 899,670 shares, compared to its average volume of 502,944. The company has a 50-day moving average price of $113.76 and a two-hundred day moving average price of $127.97. Churchill Downs Incorporated has a fifty-two week low of $96.80 and a fifty-two week high of $150.21. The firm has a market cap of $7.78 billion, a PE ratio of 18.64, a P/E/G ratio of 2.95 and a beta of 0.86. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last announced its 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). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million during the quarter, compared to analysts' expectations of $620.21 million. On average, analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs declared that its Board of Directors has approved a share buyback program on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to buy 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.

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.