Winslow Asset Management Inc. Boosts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Winslow Asset Management Inc. grew its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,280 shares of the company’s stock after acquiring an additional 90 shares during the quarter. Winslow Asset Management Inc.’s holdings in Churchill Downs were worth $443,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Venturi Wealth Management LLC boosted its stake in shares of Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares during the period. First Horizon Advisors Inc. grew its stake in Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Churchill Downs by 1.5% during the second quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares during the period. Arizona State Retirement System increased its position in shares of Churchill Downs by 0.6% during the second quarter. Arizona State Retirement System now owns 18,564 shares of the company’s stock worth $2,592,000 after acquiring an additional 114 shares during the period. Finally, Mercer Global Advisors Inc. ADV raised its stake in shares of Churchill Downs by 4.8% during the second quarter. Mercer Global Advisors Inc. ADV now owns 2,547 shares of the company’s stock valued at $356,000 after acquiring an additional 116 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. 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. Wells Fargo & Company boosted their price objective 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. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and increased their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Price Performance

Shares of CHDN stock opened at $141.88 on Tuesday. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $10.43 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 4.02 and a beta of 0.96. The stock’s 50-day simple moving average is $138.77 and its 200-day simple moving average is $137.53.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.87 EPS. As a group, equities analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal 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. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is currently 6.92%.

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.