Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,378 shares of the company’s stock after buying an additional 366 shares during the period. CIBC Private Wealth Group LLC’s holdings in Churchill Downs were worth $565,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Churchill Downs by 1.6% during the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock valued at $909,183,000 after acquiring an additional 107,737 shares in the last quarter. State Street Corp lifted its stake in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares in the last quarter. Boston Partners boosted its position in shares of Churchill Downs by 25.6% in the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after buying an additional 366,283 shares during the period. Schroder Investment Management Group raised its holdings in shares of Churchill Downs by 5.4% during the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock valued at $201,223,000 after buying an additional 77,213 shares during the period. Finally, Geode Capital Management LLC lifted its position in Churchill Downs by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after acquiring an additional 96,910 shares in the last quarter. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 5.8 %

NASDAQ:CHDN opened at $102.66 on Friday. Churchill Downs Incorporated has a 52 week low of $101.62 and a 52 week high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The company has a market cap of $7.54 billion, a PE ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. The business’s 50 day moving average is $116.11 and its two-hundred day moving average is $129.27.

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

Churchill Downs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs declared that its board has approved a stock buyback 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 shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of recent research reports. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus decreased their price objective on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Mizuho dropped their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. One investment 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 an average rating of “Moderate Buy” and an average target price of $159.38.

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.