Healthcare of Ontario Pension Plan Trust Fund Purchases Shares of 10,116 Churchill Downs Incorporated (NASDAQ:CHDN)

Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,116 shares of the company's stock, valued at approximately $1,368,000.

Several other institutional investors and hedge funds have also bought and sold shares of CHDN. William Blair Investment Management LLC purchased a new stake in Churchill Downs in the second quarter valued at approximately $125,418,000. Westfield Capital Management Co. LP raised its position in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after purchasing an additional 381,754 shares during the last quarter. Bank of New York Mellon Corp increased its position in Churchill Downs by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company's stock valued at $88,551,000 after purchasing an additional 3,608 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company's stock worth $80,477,000 after buying an additional 37,679 shares during the period. Finally, Dimensional Fund Advisors LP boosted its position in shares of Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company's stock valued at $61,782,000 after purchasing an additional 57,892 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CHDN shares. JMP Securities restated a "market outperform" rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, November 6th. Bank of America upgraded shares of Churchill Downs from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Truist Financial reissued a "buy" rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Finally, Mizuho cut their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $160.88.

Churchill Downs Price Performance

CHDN traded up $0.67 during midday trading on Monday, hitting $142.78. 372,672 shares of the company traded hands, compared to its average volume of 434,295. The company has a market capitalization of $10.49 billion, a price-to-earnings ratio of 25.89, a PEG ratio of 3.94 and a beta of 0.96. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The business has a 50 day simple moving average of $139.18 and a two-hundred day simple moving average of $138.17. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs's revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.87 EPS. On average, equities analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This is a boost from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. Churchill Downs's payout ratio is presently 7.29%.

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.