Fifth Third Bancorp Has $219,000 Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Fifth Third Bancorp lessened its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 8.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,640 shares of the company’s stock after selling 153 shares during the quarter. Fifth Third Bancorp’s holdings in Churchill Downs were worth $219,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in CHDN. Wilmington Savings Fund Society FSB purchased a new stake in shares of Churchill Downs in the 3rd quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its holdings in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in shares of Churchill Downs in the fourth quarter valued at $55,000. UMB Bank n.a. grew its holdings in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after buying an additional 255 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its holdings 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 buying an additional 90 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on CHDN shares. Mizuho lowered 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. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Price Performance

NASDAQ CHDN opened at $123.58 on Friday. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a fifty day simple moving average of $132.44 and a 200 day simple moving average of $136.54. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a market cap of $9.08 billion, a P/E ratio of 22.51, a P/E/G ratio of 3.08 and a beta of 0.96.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is presently 7.47%.

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.