Charles Schwab Investment Management Inc. Has $80.48 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Charles Schwab Investment Management Inc. boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 595,202 shares of the company’s stock after purchasing an additional 37,679 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.81% of Churchill Downs worth $80,477,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of CHDN. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Churchill Downs in the first quarter valued at approximately $235,000. Strategic Wealth Partners Ltd. raised its holdings in Churchill Downs by 48.7% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 8,969 shares of the company’s stock valued at $1,110,000 after acquiring an additional 2,936 shares in the last quarter. Community Trust & Investment Co. lifted its position in shares of Churchill Downs by 19.5% during the 1st quarter. Community Trust & Investment Co. now owns 129,913 shares of the company’s stock valued at $16,077,000 after acquiring an additional 21,200 shares during the period. Boston Partners grew its holdings in shares of Churchill Downs by 4.4% during the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock worth $104,723,000 after purchasing an additional 35,587 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after purchasing an additional 257 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Up 0.4 %

Shares of NASDAQ:CHDN opened at $140.22 on Thursday. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a market capitalization of $10.31 billion, a PE ratio of 25.54, a price-to-earnings-growth ratio of 3.93 and a beta of 0.96. 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 company has a fifty day moving average of $139.07 and a 200-day moving average of $138.03.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The business had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the prior year, the firm earned $0.87 EPS. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed 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 represents a yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 6.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on CHDN shares. Mizuho cut their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. 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 upgraded 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 note on Monday, August 12th. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

About Churchill Downs

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.