Churchill Downs Incorporated (NASDAQ:CHDN) Holdings Cut by Capital International Investors

Capital International Investors decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 37.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,196,251 shares of the company's stock after selling 713,891 shares during the quarter. Capital International Investors owned approximately 1.63% of Churchill Downs worth $159,747,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank purchased a new stake in shares of Churchill Downs during the 4th quarter worth about $74,967,000. Boston Partners lifted its position in Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock valued at $239,619,000 after buying an additional 366,283 shares in the last quarter. FMR LLC grew its stake in Churchill Downs by 6.4% during the fourth quarter. FMR LLC now owns 3,592,087 shares of the company's stock worth $479,687,000 after buying an additional 214,694 shares during the period. Clearbridge Investments LLC purchased a new stake in Churchill Downs during the fourth quarter worth approximately $28,369,000. Finally, Raymond James Financial Inc. acquired a new stake in shares of Churchill Downs in the fourth quarter worth $16,015,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on CHDN shares. StockNews.com cut shares of Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Barclays began coverage on Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 target price on the stock. Mizuho decreased their price target on Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a report on Tuesday. Finally, Truist Financial lowered their price objective on shares of Churchill Downs from $162.00 to $155.00 and set a "buy" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. According to MarketBeat, Churchill Downs presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.90.

Churchill Downs Stock Up 2.0 %

NASDAQ CHDN traded up $2.04 during trading hours on Wednesday, reaching $105.04. 793,486 shares of the company traded hands, compared to its average volume of 509,145. The stock has a market capitalization of $7.72 billion, a PE ratio of 18.49, a PEG 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 Incorporated has a 12 month low of $96.67 and a 12 month high of $150.21. The company has a 50 day moving average of $110.05 and a two-hundred day moving average of $125.90.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.09). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. As a group, equities analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs's dividend payout ratio (DPR) is 7.04%.

Churchill Downs declared that its board has approved a share repurchase program on Wednesday, March 12th that allows the company to repurchase $500.00 million in shares. This repurchase authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board of directors believes its stock is undervalued.

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.