RFG Bristol Wealth Advisors LLC Invests $1.64 Million in Churchill Downs Incorporated (NASDAQ:CHDN)

RFG Bristol Wealth Advisors LLC purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,305 shares of the company's stock, valued at approximately $1,643,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock worth $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 worth approximately $27,000. Fortitude Family Office LLC lifted its position 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 acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs during the 4th quarter valued at $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs in the 4th quarter worth $55,000. Institutional investors own 82.59% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Wells Fargo & Company dropped their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a report on Friday, February 21st. Stifel Nicolaus dropped their target price on Churchill Downs from $164.00 to $161.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research report on Wednesday, March 19th. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Mizuho decreased their price target on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a report on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, Churchill Downs currently has an average rating of "Moderate Buy" and a consensus price target of $159.38.

Churchill Downs Trading Down 5.8 %

Shares of NASDAQ CHDN traded down $6.36 during trading hours on Friday, hitting $102.66. 984,270 shares of the company traded hands, compared to its average volume of 497,417. The stock has a market capitalization of $7.54 billion, a price-to-earnings ratio of 18.07, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The company's 50 day moving average price is $116.11 and its 200 day moving average price is $129.19. Churchill Downs Incorporated has a 12 month low of $101.62 and a 12 month high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). The firm had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.23%. Churchill Downs's dividend payout ratio (DPR) is currently 7.04%.

Churchill Downs declared that its Board of Directors has initiated a stock buyback plan on Wednesday, March 12th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.