Vanguard Group Inc. Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Vanguard Group Inc. lifted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,808,321 shares of the company’s stock after purchasing an additional 107,737 shares during the period. Vanguard Group Inc. owned 0.09% of Churchill Downs worth $909,183,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of CHDN. LPL Financial LLC lifted its holdings in Churchill Downs by 107.8% in the 4th quarter. LPL Financial LLC now owns 40,356 shares of the company’s stock worth $5,389,000 after buying an additional 20,938 shares during the period. Sei Investments Co. lifted its stake in Churchill Downs by 6.0% in the fourth quarter. Sei Investments Co. now owns 41,892 shares of the company’s stock worth $5,594,000 after acquiring an additional 2,356 shares during the period. Semanteon Capital Management LP boosted its holdings in Churchill Downs by 21.6% in the fourth quarter. Semanteon Capital Management LP now owns 8,194 shares of the company’s stock valued at $1,094,000 after acquiring an additional 1,454 shares in the last quarter. Teacher Retirement System of Texas increased its position in Churchill Downs by 10.0% during the 4th quarter. Teacher Retirement System of Texas now owns 9,196 shares of the company’s stock valued at $1,228,000 after purchasing an additional 836 shares during the period. Finally, Xponance Inc. raised its holdings in Churchill Downs by 3.0% in the 4th quarter. Xponance Inc. now owns 14,345 shares of the company’s stock worth $1,916,000 after purchasing an additional 412 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus cut their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Wells Fargo & Company cut their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Mizuho reduced their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Stock Performance

Churchill Downs stock opened at $111.23 on Friday. The stock’s 50 day moving average is $117.77 and its 200 day moving average is $130.35. The company has a market capitalization of $8.17 billion, a P/E ratio of 19.58, a PEG ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

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

Churchill Downs Dividend Announcement

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

Churchill Downs declared that its Board of Directors has authorized a share repurchase program 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 programs are often an indication that the company’s leadership 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.