Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Creative Planning

Creative Planning increased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 15.4% in the third quarter, Holdings Channel reports. The firm owned 4,655 shares of the company’s stock after purchasing an additional 620 shares during the quarter. Creative Planning’s holdings in Churchill Downs were worth $629,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Kimelman & Baird LLC bought a new stake in shares of Churchill Downs during the 2nd quarter valued at about $42,000. Central Pacific Bank Trust Division bought a new position in Churchill Downs in the 1st quarter worth about $44,000. CWM LLC increased its position in Churchill Downs by 36.8% in the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock valued at $61,000 after acquiring an additional 118 shares during the period. UMB Bank n.a. raised its stake 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 purchasing an additional 255 shares in the last quarter. Finally, Bank & Trust Co bought a new stake in shares of Churchill Downs during the 2nd quarter worth about $84,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

Churchill Downs stock opened at $137.26 on Tuesday. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $146.64. The firm has a market cap of $10.09 billion, a P/E ratio of 25.00, a P/E/G ratio of 3.88 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 business’s fifty day moving average is $138.25 and its two-hundred day moving average is $136.68.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. Churchill Downs’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.87 EPS. Equities research analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business 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 an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is currently 6.92%.

Analyst Ratings Changes

Several research firms have recently weighed in on CHDN. Macquarie lifted their price objective on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Wells Fargo & Company increased their target price on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Jefferies Financial Group upped their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, July 11th. Finally, StockNews.com downgraded Churchill Downs from a “hold” rating to a “sell” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating and eight have given a buy rating to the stock. According to MarketBeat.com, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

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.