Sei Investments Co. Grows Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Sei Investments Co. increased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 6.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 41,892 shares of the company's stock after purchasing an additional 2,356 shares during the quarter. Sei Investments Co. owned 0.06% of Churchill Downs worth $5,594,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its position in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company's stock worth $280,971,000 after buying an additional 114,018 shares during the period. Boston Partners lifted its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after acquiring an additional 366,283 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Churchill Downs by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company's stock valued at $175,742,000 after acquiring an additional 96,910 shares during the period. Jennison Associates LLC grew its position in Churchill Downs by 5.6% in the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company's stock valued at $133,594,000 after acquiring an additional 53,334 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Churchill Downs by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after purchasing an additional 10,153 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

CHDN traded down $6.36 on Friday, reaching $102.66. The company had a trading volume of 984,270 shares, compared to its average volume of 497,417. The stock has a 50-day moving average price of $116.11 and a 200-day moving average price of $129.12. The stock has a market capitalization of $7.54 billion, a PE ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a 1 year low of $101.62 and a 1 year high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly 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). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to analysts' expectations of $620.21 million. 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 approved a share repurchase plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board believes its stock is undervalued.

Churchill Downs Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.