Charles Schwab Investment Management Inc. Has $80.84 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Charles Schwab Investment Management Inc. increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 1.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 605,355 shares of the company's stock after buying an additional 10,153 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.82% of Churchill Downs worth $80,839,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Westfield Capital Management Co. LP lifted its holdings in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Kovitz Investment Group Partners LLC bought a new position in Churchill Downs in the 3rd quarter valued at $18,368,000. State Street Corp boosted its stake in Churchill Downs by 5.8% in the third quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after purchasing an additional 114,018 shares in the last quarter. WCM Investment Management LLC bought a new stake in shares of Churchill Downs during the third quarter worth $15,231,000. Finally, Geode Capital Management LLC grew its holdings in shares of Churchill Downs by 8.1% during the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company's stock worth $175,742,000 after purchasing an additional 96,910 shares during the last quarter. Institutional investors own 82.59% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Churchill Downs Stock Up 2.7 %

Shares of NASDAQ:CHDN traded up $2.89 during trading on Friday, hitting $110.50. 666,928 shares of the company's stock traded hands, compared to its average volume of 472,522. 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 company has a 50-day moving average price of $121.42 and a 200-day moving average price of $132.34. Churchill Downs Incorporated has a 52 week low of $105.18 and a 52 week high of $150.21. The company has a market cap of $8.13 billion, a price-to-earnings ratio of 19.45, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate 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 forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs declared that its board has authorized a share buyback plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership 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.