Johnson Investment Counsel Inc. Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Johnson Investment Counsel Inc. lifted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 12.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,108 shares of the company’s stock after purchasing an additional 338 shares during the quarter. Johnson Investment Counsel Inc.’s holdings in Churchill Downs were worth $415,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of Churchill Downs in the 3rd quarter valued at $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth about $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on CHDN. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho lowered 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. Stifel Nicolaus dropped their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Trading Up 1.0 %

Shares of CHDN opened at $107.61 on Friday. The firm has a market capitalization of $7.91 billion, a P/E ratio of 18.95, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The stock’s fifty day simple moving average is $121.90 and its 200 day simple moving average is $132.51. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21.

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

Churchill Downs declared that its Board of Directors has authorized a stock repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Churchill Downs Company 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.