Venturi Wealth Management LLC Increases Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Venturi Wealth Management LLC grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 13.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 767 shares of the company’s stock after acquiring an additional 90 shares during the period. Venturi Wealth Management LLC’s holdings in Churchill Downs were worth $104,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Capital International Investors lifted its position in Churchill Downs by 7.5% during the first quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares in the last quarter. William Blair Investment Management LLC purchased a new position in shares of Churchill Downs during the 2nd quarter valued at about $125,418,000. Boston Partners grew its stake in shares of Churchill Downs by 4.4% during the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after acquiring an additional 35,587 shares during the period. Bank of New York Mellon Corp increased its holdings in Churchill Downs by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after acquiring an additional 3,608 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Churchill Downs by 15.1% during the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock valued at $61,782,000 after purchasing an additional 57,892 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Monday, October 14th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and raised their price target for the company from $145.00 to $155.00 in a report on Monday, August 12th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho decreased their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Wells Fargo & Company upped their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $140.91 on Friday. The company has a market cap of $10.36 billion, a price-to-earnings ratio of 25.67, a PEG ratio of 3.91 and a beta of 0.96. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The stock’s 50 day simple moving average is $138.99 and its two-hundred day simple moving average is $137.66. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the previous year, the business posted $0.87 earnings per share. Churchill Downs’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be issued a $0.409 dividend. 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 (DPR) is presently 6.92%.

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.