State of Alaska Department of Revenue Trims Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

State of Alaska Department of Revenue decreased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,381 shares of the company’s stock after selling 145 shares during the period. State of Alaska Department of Revenue’s holdings in Churchill Downs were worth $1,119,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. increased its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs in the third quarter worth about $27,000. Fortitude Family Office LLC grew its stake in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd purchased a new position in Churchill Downs during the fourth quarter valued at approximately $55,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

CHDN has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho reduced 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 note on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating for the company in a research note on Monday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $160.50.

Churchill Downs Trading Down 0.7 %

Shares of Churchill Downs stock opened at $120.90 on Thursday. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The firm has a market cap of $8.89 billion, a PE ratio of 22.02, a PEG ratio of 3.05 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50 day simple moving average of $129.42 and a two-hundred day simple moving average of $135.47.

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 issued a $0.409 dividend. This represents a dividend yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s payout ratio is presently 7.47%.

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.