Teacher Retirement System of Texas Purchases 836 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Teacher Retirement System of Texas increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 10.0% during the 4th quarter, Holdings Channel reports. The firm owned 9,196 shares of the company’s stock after acquiring an additional 836 shares during the period. Teacher Retirement System of Texas’ holdings in Churchill Downs were worth $1,228,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. State Street Corp raised its holdings in Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after acquiring an additional 114,018 shares during the period. Boston Partners grew its position in shares of Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after purchasing an additional 366,283 shares in the last quarter. Geode Capital Management LLC raised its stake in Churchill Downs by 8.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after purchasing an additional 96,910 shares during the period. Jennison Associates LLC lifted its holdings in Churchill Downs by 5.6% in the 4th quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock worth $133,594,000 after purchasing an additional 53,334 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in Churchill Downs by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company’s stock worth $80,839,000 after purchasing an additional 10,153 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 1.0 %

CHDN opened at $111.23 on Friday. The stock has a 50-day moving average of $117.77 and a 200 day moving average of $130.35. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month high of $150.21. The firm has a market cap of $8.17 billion, a P/E ratio of 19.58, a P/E/G ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, research analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Churchill Downs announced that its board has authorized a share buyback program on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on CHDN shares. Mizuho reduced their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 19th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company reduced their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, Stifel Nicolaus dropped their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $159.38.

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.