Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Fmr LLC

Fmr LLC boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,377,393 shares of the company’s stock after buying an additional 8,163 shares during the period. Fmr LLC’s holdings in Churchill Downs were worth $456,657,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. William Blair Investment Management LLC purchased a new stake in Churchill Downs in the second quarter valued at approximately $125,418,000. Boston Partners grew its stake in shares of Churchill Downs by 4.4% during the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after buying an additional 35,587 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Churchill Downs by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after buying an additional 3,608 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after acquiring an additional 37,679 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on CHDN. Wells Fargo & Company raised their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the company from $145.00 to $155.00 in a research report on Monday, August 12th. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Monday, October 14th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One equities research analyst has rated the stock with a hold rating and eight have given 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 Stock Up 1.3 %

Shares of Churchill Downs stock opened at $142.11 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The business has a 50-day moving average of $139.09 and a 200-day moving average of $138.06. The company has a market capitalization of $10.45 billion, a PE ratio of 25.89, a P/E/G ratio of 3.88 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Churchill Downs’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.87 EPS. As a group, equities analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a 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 dividend payout ratio is 6.92%.

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.