Copeland Capital Management LLC Grows Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Copeland Capital Management LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 268,725 shares of the company’s stock after purchasing an additional 4,614 shares during the period. Copeland Capital Management LLC owned approximately 0.37% of Churchill Downs worth $36,334,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Kimelman & Baird LLC acquired a new position in Churchill Downs during the 2nd quarter valued at about $42,000. Central Pacific Bank Trust Division purchased a new position in shares of Churchill Downs in the 1st quarter valued at approximately $44,000. CWM LLC raised its position in shares of Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. grew its position in Churchill Downs by 82.8% during the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after purchasing an additional 255 shares during the last quarter. Finally, Bank & Trust Co acquired a new position in Churchill Downs during the 2nd quarter valued at approximately $84,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 1.8 %

Shares of Churchill Downs stock opened at $135.49 on Tuesday. The firm has a 50-day simple moving average of $137.79 and a two-hundred day simple moving average of $135.49. The company has a debt-to-equity ratio of 4.65, a quick ratio of 0.57 and a current ratio of 0.57. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $146.64. The company has a market cap of $9.96 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.06 and a beta of 0.97.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, July 24th. The company reported $2.89 earnings per share for the quarter, topping analysts’ consensus estimates of $2.71 by $0.18. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The company had revenue of $890.70 million during the quarter, compared to analysts’ expectations of $858.59 million. During the same quarter in the prior year, the firm posted $2.24 EPS. Churchill Downs’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Bank of America upgraded shares of 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 note on Monday, August 12th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. Jefferies Financial Group raised their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Thursday, July 11th. Macquarie upped their target price on Churchill Downs from $154.00 to $162.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a hold rating and eight have given 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 $161.75.

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.