Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Fmr LLC

Fmr LLC raised its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 3,377,393 shares of the company’s stock after acquiring an additional 8,163 shares during the period. Fmr LLC owned approximately 4.60% of Churchill Downs worth $456,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in CHDN. Harbor Capital Advisors Inc. lifted its position in Churchill Downs by 259.3% in the second quarter. Harbor Capital Advisors Inc. now owns 19,857 shares of the company’s stock valued at $2,772,000 after purchasing an additional 14,331 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $516,000. Westfield Capital Management Co. LP boosted its stake in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Churchill Downs by 10,126.1% during the second quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares during the period. Finally, Point72 Asset Management L.P. raised its position in Churchill Downs by 66.8% in the second quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after acquiring an additional 100,230 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on CHDN shares. Truist Financial restated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. 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 target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $142.11 on Friday. 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 business’s fifty day moving average price is $139.09 and its two-hundred day moving average price is $138.06. The stock has a market cap of $10.45 billion, a PE ratio of 25.89, a price-to-earnings-growth ratio of 3.88 and a beta of 0.96. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating 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 business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.87 earnings per share. On average, analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid 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 of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is presently 6.92%.

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.