Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 44.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,131 shares of the company's stock after acquiring an additional 5,265 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Churchill Downs were worth $2,288,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CHDN. Truist Financial Corp grew its holdings in shares of Churchill Downs by 22.1% in the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company's stock valued at $3,958,000 after purchasing an additional 5,372 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock valued at $80,839,000 after purchasing an additional 10,153 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company's stock valued at $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Churchill Downs in the fourth quarter valued at $1,927,000. Finally, Atria Investments Inc grew its holdings in shares of Churchill Downs by 3.9% in the third quarter. Atria Investments Inc now owns 6,004 shares of the company's stock valued at $812,000 after purchasing an additional 224 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

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Churchill Downs Stock Performance

NASDAQ CHDN traded down $0.96 during trading hours on Thursday, reaching $112.01. The stock had a trading volume of 508,314 shares, compared to its average volume of 469,425. The stock has a fifty day moving average of $119.82 and a 200 day moving average of $131.55. The stock has a market cap of $8.24 billion, a P/E ratio of 19.72, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57.

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

Churchill Downs announced that its board has approved a stock buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's management believes its stock is undervalued.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.21%. Churchill Downs's dividend payout ratio is presently 7.04%.

Analysts Set New Price Targets

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

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.