Loomis Sayles & Co. L P Cuts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Loomis Sayles & Co. L P lowered its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.0% in the third quarter, Holdings Channel.com reports. The firm owned 428,214 shares of the company’s stock after selling 4,538 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Churchill Downs were worth $57,899,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CHDN. Venturi Wealth Management LLC increased its position in shares of Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after buying an additional 90 shares in the last quarter. Winslow Asset Management Inc. increased its holdings in Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after acquiring an additional 90 shares in the last quarter. Commerce Bank raised its position in Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares during the last quarter. First Horizon Advisors Inc. lifted its holdings in shares of Churchill Downs by 13.8% in the second quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after purchasing an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Churchill Downs by 1.5% in the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on CHDN. Bank of America upgraded Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective 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 note on Wednesday, November 6th. Wells Fargo & Company raised their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $141.87 on Monday. The company has a market cap of $10.43 billion, a P/E ratio of 25.84, a P/E/G ratio of 3.93 and a beta of 0.96. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50-day moving average of $139.05 and a 200-day moving average of $137.99.

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

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is 6.92%.

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.