Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2.7% during the 3rd quarter, Holdings Channel reports. The fund owned 21,218 shares of the company’s stock after selling 580 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Churchill Downs were worth $2,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of CHDN. CWM LLC raised its stake in Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the period. SG Americas Securities LLC acquired a new position in Churchill Downs in the second quarter valued at approximately $1,000,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Churchill Downs by 5.5% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 10,052 shares of the company’s stock valued at $1,403,000 after acquiring an additional 521 shares during the last quarter. Raymond James & Associates grew its position in Churchill Downs by 66.4% in the second quarter. Raymond James & Associates now owns 80,756 shares of the company’s stock worth $11,274,000 after acquiring an additional 32,225 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in 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 last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Truist Financial reiterated a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Wells Fargo & Company upped their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Down 1.0 %

Shares of CHDN stock opened at $136.05 on Friday. The stock has a market capitalization of $10.00 billion, a P/E ratio of 24.78, a price-to-earnings-growth ratio of 3.84 and a beta of 0.95. 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 company has a 50 day moving average price of $140.03 and a 200 day moving average price of $138.51.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data 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. The business had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.87 earnings per share. Equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business 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 $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is currently 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.