Schroder Investment Management Group lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,499,874 shares of the company's stock after acquiring an additional 77,213 shares during the period. Schroder Investment Management Group owned 2.04% of Churchill Downs worth $201,223,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in CHDN. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC lifted its holdings in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after acquiring an additional 246 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs during the 4th quarter valued at about $55,000. Finally, R Squared Ltd acquired a new position in shares of Churchill Downs in the 4th quarter worth approximately $55,000. 82.59% of the stock is currently owned by institutional investors.
Churchill Downs Stock Down 3.4 %
NASDAQ:CHDN traded down $3.75 during mid-day trading on Thursday, reaching $108.04. The stock had a trading volume of 265,060 shares, compared to its average volume of 492,406. The stock has a market cap of $7.94 billion, a P/E ratio of 19.02, a PEG ratio of 2.95 and a beta of 0.93. The business's 50 day moving average is $116.89 and its 200 day moving average is $129.67. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a fifty-two week low of $105.18 and a fifty-two week high of $150.21.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, sell-side analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. Churchill Downs's dividend payout ratio (DPR) is presently 7.04%.
Churchill Downs announced that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its stock is undervalued.
Analyst Ratings Changes
Several research analysts have issued reports on the company. Stifel Nicolaus dropped their price target on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a report on Friday, February 21st. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, March 19th. Wells Fargo & Company dropped 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. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho reduced their price objective on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $159.38.
Check Out Our Latest Stock Analysis on Churchill Downs
Churchill Downs Company Profile
(
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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