State Street Corp Increases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

State Street Corp increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,078,031 shares of the company's stock after buying an additional 114,018 shares during the period. State Street Corp owned 2.83% of Churchill Downs worth $280,971,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Aigen Investment Management LP purchased a new stake in shares of Churchill Downs in the third quarter worth $516,000. Westfield Capital Management Co. LP boosted its stake 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 purchasing an additional 381,754 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in Churchill Downs by 10,126.1% during the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company's stock valued at $27,338,000 after purchasing an additional 193,914 shares in the last quarter. Point72 Asset Management L.P. increased its stake in Churchill Downs by 66.8% during the 2nd 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, Oppenheimer Asset Management Inc. purchased a new position in Churchill Downs in the second quarter worth about $794,000. Institutional investors own 82.59% of the company's stock.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN traded up $0.26 during trading on Wednesday, hitting $138.63. The company's stock had a trading volume of 358,931 shares, compared to its average volume of 431,129. The company has a 50-day moving average of $140.00 and a 200-day moving average of $138.44. 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 cap of $10.19 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 3.85 and a beta of 0.95. 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 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 during the quarter, compared to analysts' expectations of $627.90 million. During the same quarter in the prior year, the business posted $0.87 earnings per share. The business's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current 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 7.29%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Mizuho reduced their price target 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. Wells Fargo & Company lifted their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an "overweight" rating in a report on Thursday, October 17th. Truist Financial reaffirmed a "buy" rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a "sell" rating to a "hold" rating in a report on Wednesday, November 6th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus 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.