Churchill Downs Incorporated (NASDAQ:CHDN) Given Consensus Rating of “Buy” by Analysts

Shares of Churchill Downs Incorporated (NASDAQ:CHDN) have received an average rating of “Buy” from the eight research firms that are covering the firm, Marketbeat reports. Eight equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $160.88.

A number of research analysts recently commented on the company. Wells Fargo & Company raised their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho lowered their price objective 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th.

Churchill Downs Trading Down 0.4 %

Shares of NASDAQ:CHDN opened at $125.02 on Monday. The business’s 50 day simple moving average is $133.98 and its 200 day simple moving average is $137.07. Churchill Downs has a 1 year low of $111.10 and a 1 year high of $150.21. 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 company has a market capitalization of $9.19 billion, a P/E ratio of 22.77, a P/E/G ratio of 2.94 and a beta of 0.96.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a dividend of $0.409 per share. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 7.29%.

Hedge Funds Weigh In On Churchill Downs

A number of institutional investors and hedge funds have recently bought and sold shares of CHDN. Jennison Associates LLC grew its holdings in shares of Churchill Downs by 5.6% during the fourth quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock worth $133,594,000 after purchasing an additional 53,334 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of Churchill Downs by 15.3% in the fourth quarter. Independence Bank of Kentucky now owns 16,290 shares of the company’s stock valued at $2,175,000 after buying an additional 2,161 shares during the period. Hunter Associates Investment Management LLC raised its position in shares of Churchill Downs by 7.9% during the fourth quarter. Hunter Associates Investment Management LLC now owns 25,122 shares of the company’s stock worth $3,346,000 after acquiring an additional 1,844 shares during the last quarter. R Squared Ltd acquired a new position in shares of Churchill Downs in the fourth quarter worth approximately $55,000. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO boosted its holdings in Churchill Downs by 4.3% in the fourth quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 4,161 shares of the company’s stock valued at $556,000 after acquiring an additional 170 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

About Churchill Downs

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.