Geode Capital Management LLC Buys 10,018 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Geode Capital Management LLC boosted its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,309,460 shares of the company's stock after purchasing an additional 10,018 shares during the period. Geode Capital Management LLC owned about 1.78% of Churchill Downs worth $174,917,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in CHDN. Norges Bank acquired a new stake in shares of Churchill Downs during the fourth quarter valued at about $74,967,000. Boston Partners grew its stake in shares of Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company's stock worth $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Clearbridge Investments LLC acquired a new stake in Churchill Downs in the fourth quarter valued at $28,369,000. Raymond James Financial Inc. bought a new position in Churchill Downs during the 4th quarter worth $16,015,000. Finally, State Street Corp lifted its holdings in Churchill Downs by 5.8% during the 3rd 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. Institutional investors and hedge funds own 82.59% of the company's stock.

Analyst Ratings Changes

CHDN has been the subject of a number of analyst reports. Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Barclays started coverage on Churchill Downs in a research report on Friday. They issued an "overweight" rating and a $125.00 price objective for the company. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a research note on Tuesday. JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Stifel Nicolaus cut their target price on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and an average target price of $153.44.

Churchill Downs Stock Up 0.1 %

Shares of CHDN traded up $0.10 on Friday, reaching $102.51. The company's stock had a trading volume of 586,981 shares, compared to its average volume of 504,800. Churchill Downs Incorporated has a twelve month low of $96.67 and a twelve month high of $150.21. The stock has a market capitalization of $7.53 billion, a PE ratio of 18.05, 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. The firm has a fifty day moving average of $112.92 and a 200-day moving average of $127.55.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. Equities analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs announced that its Board of Directors has approved a stock buyback plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's board of directors believes its stock is undervalued.

Churchill Downs Dividend Announcement

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

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.