Empowered Funds LLC Acquires 3,086 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Empowered Funds LLC increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 33.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,441 shares of the company's stock after buying an additional 3,086 shares during the period. Empowered Funds LLC's holdings in Churchill Downs were worth $1,661,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Blue Trust Inc. increased its position in Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs during the third quarter worth about $27,000. Fortitude Family Office LLC increased its position in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock worth $34,000 after acquiring an additional 246 shares during the period. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs in the 4th quarter worth about $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs in the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Price Performance

Shares of NASDAQ CHDN traded down $2.16 during mid-day trading on Wednesday, hitting $119.42. 877,764 shares of the stock traded hands, compared to its average volume of 521,316. The company has a market cap of $8.78 billion, a PE ratio of 21.75, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $128.06 and a two-hundred day simple moving average of $134.89.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This is a boost from Churchill Downs's previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs's payout ratio is 7.47%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on CHDN shares. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Wells Fargo & Company dropped their price objective on Churchill Downs from $168.00 to $165.00 and set an "overweight" rating for the company in a report on Monday, February 10th. Truist Financial reissued a "buy" rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reaffirmed a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an "outperform" rating for the company in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $160.13.

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.