B. Metzler seel. Sohn & Co. AG Grows Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 20.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 20,954 shares of the company’s stock after buying an additional 3,550 shares during the period. B. Metzler seel. Sohn & Co. AG’s holdings in Churchill Downs were worth $2,798,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Blue Trust Inc. boosted its holdings in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Churchill Downs during the 3rd quarter valued at about $27,000. Fortitude Family Office LLC increased its position in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the period. Eagle Bay Advisors LLC bought a new position in Churchill Downs in the fourth quarter worth about $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter worth about $55,000. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Stifel Nicolaus decreased their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Mizuho cut their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $159.38.

Churchill Downs Stock Performance

Shares of CHDN opened at $110.72 on Wednesday. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month high of $150.21. The business’s fifty day simple moving average is $117.16 and its two-hundred day simple moving average is $129.80. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 19.49, a P/E/G ratio of 2.95 and a beta of 0.93.

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

Churchill Downs Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.

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.