Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Sei Investments Co.

Sei Investments Co. lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 6.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 41,892 shares of the company’s stock after acquiring an additional 2,356 shares during the quarter. Sei Investments Co. owned about 0.06% of Churchill Downs worth $5,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in CHDN. 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 lifted its position in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after acquiring an additional 366,283 shares in the last quarter. 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. Jennison Associates LLC boosted its holdings in Churchill Downs by 5.6% in the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock worth $133,594,000 after acquiring an additional 53,334 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Churchill Downs by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock valued at $80,839,000 after acquiring an additional 10,153 shares in the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note 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. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Wells Fargo & Company lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

Churchill Downs Stock Performance

Shares of CHDN opened at $110.72 on Wednesday. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. Churchill Downs Incorporated has a 12-month low of $105.18 and a 12-month high of $150.21. The business’s fifty day moving average price is $117.16 and its 200 day moving average price is $129.80. The stock has a market capitalization of $8.14 billion, a PE ratio of 19.49, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93.

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

Churchill Downs declared that its board has approved a stock repurchase program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Churchill Downs Dividend Announcement

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