Raymond James & Associates Lowers Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Raymond James & Associates reduced its position in Churchill Downs Incorporated (NASDAQ:CHDNGet Rating) by 21.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 13,302 shares of the company’s stock after selling 3,526 shares during the period. Raymond James & Associates’ holdings in Churchill Downs were worth $2,450,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State of Alaska Department of Revenue boosted its holdings in shares of Churchill Downs by 61.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 25,265 shares of the company’s stock valued at $4,652,000 after purchasing an additional 9,641 shares during the last quarter. ARGI Investment Services LLC boosted its holdings in shares of Churchill Downs by 3.4% in the 3rd quarter. ARGI Investment Services LLC now owns 55,444 shares of the company’s stock valued at $10,210,000 after purchasing an additional 1,800 shares during the last quarter. Louisiana State Employees Retirement System acquired a new position in shares of Churchill Downs in the 3rd quarter valued at $1,621,000. Community Trust & Investment Co. boosted its holdings in shares of Churchill Downs by 1.3% in the 3rd quarter. Community Trust & Investment Co. now owns 59,566 shares of the company’s stock valued at $10,969,000 after purchasing an additional 776 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Churchill Downs by 3.6% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 4,183 shares of the company’s stock valued at $770,000 after purchasing an additional 144 shares during the last quarter. 72.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of research analyst reports. Susquehanna lifted their price target on shares of Churchill Downs from $250.00 to $280.00 and gave the company a “positive” rating in a report on Friday. JPMorgan Chase & Co. initiated coverage on shares of Churchill Downs in a report on Thursday, December 8th. They set a “neutral” rating and a $243.00 target price on the stock. StockNews.com initiated coverage on shares of Churchill Downs in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Wells Fargo & Company reduced their target price on shares of Churchill Downs from $268.00 to $260.00 and set an “overweight” rating on the stock in a report on Wednesday, December 14th. Finally, JMP Securities initiated coverage on shares of Churchill Downs in a report on Tuesday, January 17th. They set an “outperform” rating and a $273.00 target price on the stock. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $267.20.

Churchill Downs Stock Performance

Churchill Downs stock opened at $243.12 on Friday. Churchill Downs Incorporated has a 12-month low of $172.75 and a 12-month high of $249.33. The company has a market capitalization of $9.09 billion, a price-to-earnings ratio of 19.50 and a beta of 1.10. The company has a debt-to-equity ratio of 5.18, a current ratio of 3.67 and a quick ratio of 3.67. The firm’s fifty day moving average price is $219.48 and its 200 day moving average price is $209.02.

Churchill Downs (NASDAQ:CHDNGet Rating) last released its quarterly earnings results on Wednesday, October 26th. The company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.32. Churchill Downs had a net margin of 28.43% and a return on equity of 66.95%. The firm had revenue of $383.10 million for the quarter, compared to the consensus estimate of $396.83 million. On average, research analysts forecast that Churchill Downs Incorporated will post 8.41 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, January 6th. Stockholders of record on Friday, December 2nd were given a $0.714 dividend. The ex-dividend date was Thursday, December 1st. This represents a dividend yield of 0.36%. This is an increase from Churchill Downs’s previous annual dividend of $0.67. Churchill Downs’s payout ratio is presently 5.69%.

Churchill Downs Profile

(Get Rating)

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. As of December 31, 2021, the company owned and operated three pari-mutuel gaming entertainment venues with approximately 3,050 historical racing machines (HRMs) in Kentucky; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; nine retail sportsbooks; and casino gaming in eight states with approximately 11,000 slot machines and video lottery terminals, and 200 table games.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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