Churchill Downs Incorporated (NASDAQ:CHDN) Stake Lifted by New York State Teachers Retirement System

New York State Teachers Retirement System raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 6.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,971 shares of the company's stock after buying an additional 3,727 shares during the period. New York State Teachers Retirement System owned about 0.08% of Churchill Downs worth $7,973,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. Kimelman & Baird LLC acquired a new position in Churchill Downs in the second quarter valued at $42,000. Central Pacific Bank Trust Division purchased a new position in Churchill Downs during the 1st quarter worth approximately $44,000. CWM LLC increased its position in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company's stock worth $61,000 after buying an additional 118 shares during the period. UMB Bank n.a. lifted its stake in Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company's stock valued at $76,000 after buying an additional 255 shares during the last quarter. Finally, Bank & Trust Co acquired a new stake in shares of Churchill Downs in the second quarter valued at approximately $84,000. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 0.5 %

Churchill Downs stock traded down $0.71 during trading on Tuesday, reaching $136.55. 151,846 shares of the company's stock were exchanged, compared to its average volume of 431,988. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $146.64. The company's 50-day moving average is $138.27 and its two-hundred day moving average is $136.81. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market cap of $10.04 billion, a price-to-earnings ratio of 25.00, a PEG ratio of 3.83 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released 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. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm had revenue of $628.50 million during the quarter, compared to analysts' expectations of $627.90 million. During the same quarter in the prior year, the business earned $0.87 EPS. Churchill Downs's quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently announced 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. 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 payout ratio is presently 6.92%.

Analyst Ratings Changes

A number of research firms have commented on CHDN. Truist Financial reissued a "buy" rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an "outperform" rating for the company in a research report on Tuesday, October 22nd. StockNews.com lowered Churchill Downs from a "hold" rating to a "sell" rating in a research note on Friday, October 25th. Jefferies Financial Group lifted their price objective on Churchill Downs from $153.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, July 11th. Finally, Wells Fargo & Company increased their target price 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 investment analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $160.88.

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.