Wilmington Savings Fund Society FSB Acquires New Shares in Churchill Downs Incorporated (NASDAQ:CHDN)

Wilmington Savings Fund Society FSB bought a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 202 shares of the company’s stock, valued at approximately $27,000.

Several other large investors have also recently bought and sold shares of CHDN. Kimelman & Baird LLC acquired a new position in shares of Churchill Downs in the second quarter valued at approximately $42,000. UMB Bank n.a. increased its position in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Churchill Downs by 13.3% during the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares during the last quarter. Canada Pension Plan Investment Board acquired a new position in shares of Churchill Downs during the second quarter worth $112,000. Finally, Quarry LP grew its stake in shares of Churchill Downs by 957.5% in the third quarter. Quarry LP now owns 846 shares of the company’s stock worth $114,000 after purchasing an additional 766 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $132.09 on Tuesday. The firm has a market capitalization of $9.71 billion, a P/E ratio of 24.06, a P/E/G ratio of 3.84 and a beta of 0.95. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The company has a fifty day moving average of $139.21 and a 200-day moving average of $138.59. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.87 earnings per share. As a group, sell-side analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Shareholders of record on Friday, December 6th will be paid 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 boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.29%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reissued a “buy” rating and set a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, December 19th. Finally, Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $160.88.

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.