Jennison Associates LLC lifted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 5.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,000,402 shares of the company's stock after acquiring an additional 53,334 shares during the quarter. Jennison Associates LLC owned 1.36% of Churchill Downs worth $133,594,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Blue Trust Inc. lifted its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs in the 3rd quarter valued at about $27,000. Fortitude Family Office LLC lifted its stake 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 buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Churchill Downs in the 4th quarter valued at about $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs in the 4th quarter valued at about $55,000. 82.59% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
CHDN has been the topic of a number of research reports. Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a research note on Tuesday, October 22nd. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Truist Financial reiterated a "buy" rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reiterated a "market outperform" rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $160.88.
Read Our Latest Research Report on CHDN
Churchill Downs Trading Up 1.9 %
Shares of NASDAQ CHDN traded up $2.33 during midday trading on Thursday, reaching $123.27. 616,652 shares of the stock were exchanged, compared to its average volume of 498,623. The company has a 50 day simple moving average of $131.02 and a 200 day simple moving average of $136.01. The stock has a market capitalization of $9.06 billion, a P/E ratio of 22.45, a PEG ratio of 3.06 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21.
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. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs's previous annual dividend of $0.38. Churchill Downs's dividend payout ratio (DPR) is currently 7.47%.
About Churchill Downs
(
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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