Public Employees Retirement System of Ohio Sells 1,262 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Public Employees Retirement System of Ohio lowered its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 25,781 shares of the company’s stock after selling 1,262 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Churchill Downs were worth $3,486,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in Churchill Downs in the second quarter worth approximately $125,418,000. Westfield Capital Management Co. LP raised its position in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in shares of Churchill Downs in the 3rd quarter worth $18,368,000. State Street Corp lifted its stake in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares during the last quarter. Finally, WCM Investment Management LLC bought a new stake in Churchill Downs during the third quarter valued at about $15,231,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on CHDN. Mizuho decreased their price target 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. Truist Financial reissued a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Monday, October 14th. Wells Fargo & Company increased their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Price Performance

NASDAQ CHDN opened at $136.05 on Monday. The company has a market cap of $10.00 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.84 and a beta of 0.95. 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 stock’s fifty day moving average price is $140.03 and its 200 day moving average price is $138.57. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.

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

Churchill Downs Increases Dividend

The firm 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 a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s payout ratio is presently 7.29%.

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.