Wells Fargo & Company MN Has $15.35 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Wells Fargo & Company MN lifted its position in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 2.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 114,935 shares of the company's stock after buying an additional 3,040 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Churchill Downs worth $15,348,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of CHDN. Louisiana State Employees Retirement System boosted its stake in shares of Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock worth $2,724,000 after acquiring an additional 100 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Arizona State Retirement System lifted its holdings in shares of Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock valued at $2,559,000 after purchasing an additional 116 shares during the last quarter. CIBC Asset Management Inc boosted its position in shares of Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock valued at $301,000 after purchasing an additional 120 shares during the period. Finally, Cetera Trust Company N.A increased its stake in Churchill Downs by 7.7% in the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company's stock worth $251,000 after purchasing an additional 135 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company's stock.

Churchill Downs Stock Up 0.4 %

Shares of CHDN traded up $0.37 during mid-day trading on Friday, hitting $101.36. 617,923 shares of the company's stock were exchanged, compared to its average volume of 506,303. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a twelve month low of $96.67 and a twelve month high of $150.21. The firm has a fifty day moving average of $110.87 and a two-hundred day moving average of $126.46. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company 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, sell-side analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.24%. Churchill Downs's payout ratio is currently 7.04%.

Churchill Downs announced that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Barclays began coverage on shares of Churchill Downs in a report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target on the stock. Mizuho dropped their price target on Churchill Downs from $151.00 to $148.00 and set an "outperform" rating on the stock in a research report on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a research report on Thursday, April 10th. JMP Securities reiterated a "market outperform" rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $153.44.

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.