Jennison Associates LLC lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 947,068 shares of the company's stock after selling 31,111 shares during the quarter. Jennison Associates LLC owned about 1.29% of Churchill Downs worth $128,053,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Capital International Investors raised its holdings in shares of Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company's stock worth $316,881,000 after buying an additional 177,900 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Churchill Downs in the 2nd quarter valued at approximately $125,418,000. Boston Partners boosted its stake in shares of Churchill Downs by 4.4% in the 1st quarter. Boston Partners now owns 846,151 shares of the company's stock valued at $104,723,000 after purchasing an additional 35,587 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of 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 last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Churchill Downs by 15.1% in the 2nd 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 during the last quarter. Institutional investors own 82.59% of the company's stock.
Churchill Downs Price Performance
Shares of NASDAQ:CHDN opened at $139.97 on Thursday. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The stock's 50 day moving average is $138.98 and its 200-day moving average is $137.93. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market capitalization of $10.29 billion, a price-to-earnings ratio of 25.50, a PEG ratio of 3.84 and a beta of 0.96.
Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same period last year, the firm earned $0.87 earnings per share. The business's quarterly revenue was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.
Churchill Downs Increases Dividend
The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. The ex-dividend date of this dividend is 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 is currently 6.92%.
Analyst Ratings Changes
A number of analysts have recently commented on CHDN shares. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. Truist Financial reaffirmed a "buy" rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Bank of America upgraded Churchill Downs from a "neutral" rating to a "buy" rating and increased their price objective for the company from $145.00 to $155.00 in a report on Monday, August 12th. Mizuho cut their target price on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company raised their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a research report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs has a consensus rating of "Moderate Buy" and an average target price of $160.88.
Check Out Our Latest Stock Report on CHDN
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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