FMR LLC lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,377,393 shares of the company's stock after acquiring an additional 8,163 shares during the period. FMR LLC owned 4.60% of Churchill Downs worth $456,657,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Kimelman & Baird LLC acquired a new stake in shares of Churchill Downs in the second quarter valued at about $42,000. CWM LLC grew its holdings in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company's stock valued at $61,000 after buying an additional 118 shares during the last quarter. UMB Bank n.a. increased its position in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company's stock worth $76,000 after buying an additional 255 shares during the period. Bank & Trust Co acquired a new position in shares of Churchill Downs during the second quarter worth approximately $84,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Churchill Downs by 72.4% during the second quarter. GAMMA Investing LLC now owns 612 shares of the company's stock worth $85,000 after buying an additional 257 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on CHDN shares. Bank of America raised shares of Churchill Downs from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Mizuho dropped their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. Truist Financial reaffirmed a "buy" rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities reissued a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Finally, StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. 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.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $160.88.
Read Our Latest Stock Report on Churchill Downs
Churchill Downs Price Performance
CHDN stock traded up $1.89 during trading on Friday, hitting $142.11. The company had a trading volume of 286,627 shares, compared to its average volume of 434,562. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a fifty day moving average price of $139.18 and a two-hundred day moving average price of $138.11. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a market cap of $10.45 billion, a P/E ratio of 25.89, a P/E/G ratio of 3.88 and a beta of 0.96.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm's revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.87 EPS. Equities research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.
Churchill Downs Increases Dividend
The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a yield of 0.29%. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs's dividend payout ratio is currently 6.92%.
About Churchill Downs
(
Free Report)
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.
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