Loomis Sayles & Co. L P Cuts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Loomis Sayles & Co. L P trimmed its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 1.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 428,214 shares of the company's stock after selling 4,538 shares during the quarter. Loomis Sayles & Co. L P owned 0.58% of Churchill Downs worth $57,899,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Harbor Capital Advisors Inc. increased its position in shares of Churchill Downs by 259.3% during the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company's stock valued at $2,772,000 after acquiring an additional 14,331 shares in the last quarter. Aigen Investment Management LP purchased a new position in shares of Churchill Downs in the third quarter worth $516,000. Assenagon Asset Management S.A. raised its stake in shares of Churchill Downs by 10,126.1% in the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock worth $27,338,000 after purchasing an additional 193,914 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in shares of Churchill Downs by 66.8% during the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company's stock valued at $34,944,000 after purchasing an additional 100,230 shares in the last quarter. Finally, Westfield Capital Management Co. LP increased its holdings in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on CHDN. StockNews.com upgraded shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Wednesday, November 6th. JMP Securities restated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an "overweight" rating in a research note on Thursday, October 17th. Bank of America raised Churchill Downs from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Finally, Mizuho lowered 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. One 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.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and a consensus target price of $160.88.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded down $0.04 during mid-day trading on Monday, reaching $141.83. 455,565 shares of the company traded hands, compared to its average volume of 435,904. The company's 50 day moving average price is $139.05 and its 200-day moving average price is $137.99. The firm has a market cap of $10.42 billion, a PE ratio of 25.84, a PEG ratio of 3.93 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 company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

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

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a $0.409 dividend. 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 is Friday, December 6th. Churchill Downs's payout ratio is presently 6.92%.

About Churchill Downs

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.