Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 7.1% in the third quarter, according to its most recent filing with the SEC. The fund owned 183,594 shares of the company's stock after acquiring an additional 12,226 shares during the period. JPMorgan Chase & Co. owned approximately 0.25% of Churchill Downs worth $24,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in CHDN. Commonwealth Equity Services LLC lifted its holdings in shares of Churchill Downs by 7.9% in the 2nd quarter. Commonwealth Equity Services LLC now owns 2,204 shares of the company's stock worth $308,000 after acquiring an additional 162 shares during the last quarter. Victory Capital Management Inc. lifted its stake in Churchill Downs by 7.7% in the second quarter. Victory Capital Management Inc. now owns 150,895 shares of the company's stock worth $21,065,000 after purchasing an additional 10,834 shares during the last quarter. Arizona State Retirement System boosted its position in Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company's stock valued at $2,592,000 after buying an additional 114 shares during the period. Choreo LLC grew its stake in shares of Churchill Downs by 30.2% during the second quarter. Choreo LLC now owns 2,611 shares of the company's stock valued at $362,000 after buying an additional 605 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its holdings in shares of Churchill Downs by 1.4% in the second quarter. Texas Permanent School Fund Corp now owns 60,267 shares of the company's stock worth $8,413,000 after buying an additional 858 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 1.3 %

Shares of CHDN stock traded down $1.69 during mid-day trading on Wednesday, hitting $129.07. The stock had a trading volume of 323,050 shares, compared to its average volume of 347,050. 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 market capitalization of $9.49 billion, a P/E ratio of 23.51, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The firm's 50-day moving average is $137.83 and its two-hundred day moving average is $138.23. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period in the prior year, the firm posted $0.87 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts predict 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 was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs's previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs's dividend payout ratio is presently 7.29%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Wells Fargo & Company increased their target price on Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a report on Thursday, October 17th. JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, December 19th. Truist Financial reissued a "buy" rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an "outperform" rating on the stock in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $160.88.

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.