SRS Capital Advisors Inc. Acquires 152 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

SRS Capital Advisors Inc. raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 6.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,540 shares of the company’s stock after purchasing an additional 152 shares during the period. SRS Capital Advisors Inc.’s holdings in Churchill Downs were worth $339,000 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. Blue Trust Inc. lifted its holdings in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC lifted its holdings in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs during the 4th quarter valued at $55,000. Finally, R Squared Ltd purchased a new stake in shares of Churchill Downs during the 4th quarter valued at $55,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

CHDN has been the subject of several analyst reports. Stifel Nicolaus decreased their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. Mizuho cut 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. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Price Performance

Shares of CHDN opened at $115.16 on Tuesday. The business’s 50-day moving average is $124.96 and its two-hundred day moving average is $133.77. The company has a market capitalization of $8.47 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.95 and a beta of 0.95. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for 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%. Research analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were given a dividend of $0.409 per share. This is an increase from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is currently 7.04%.

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.