Vanguard Group Inc. Acquires 107,737 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Vanguard Group Inc. raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,808,321 shares of the company’s stock after purchasing an additional 107,737 shares during the period. Vanguard Group Inc. owned 9.26% of Churchill Downs worth $909,183,000 at the end of the most recent reporting period.

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

Churchill Downs Trading Down 1.0 %

NASDAQ CHDN opened at $111.23 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The stock’s 50-day simple moving average is $117.77 and its two-hundred day simple moving average is $130.35. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.95 and a beta of 0.93.

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

Churchill Downs Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Churchill Downs’s payout ratio is 7.04%.

Churchill Downs declared that its Board of Directors has approved a share repurchase program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company’s leadership believes its shares are undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Mizuho decreased 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. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Stifel Nicolaus dropped their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Churchill Downs currently has an average 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.