B. Metzler seel. Sohn & Co. Holding AG Buys New Position in Churchill Downs Incorporated (NASDAQ:CHDN)

B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,404 shares of the company’s stock, valued at approximately $2,353,000.

Several other large investors also recently bought and sold shares of CHDN. William Blair Investment Management LLC purchased a new position in shares of Churchill Downs during the 2nd quarter valued at approximately $125,418,000. Boston Partners raised its stake in shares of Churchill Downs by 4.4% in the 1st quarter. Boston Partners now owns 846,151 shares of the company’s stock valued at $104,723,000 after purchasing an additional 35,587 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Churchill Downs by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 634,319 shares of the company’s stock worth $88,551,000 after purchasing an additional 3,608 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Churchill Downs by 15.1% in the second quarter. Dimensional Fund Advisors LP now owns 442,531 shares of the company’s stock worth $61,782,000 after purchasing an additional 57,892 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Churchill Downs by 6.7% in the first quarter. Janus Henderson Group PLC now owns 432,867 shares of the company’s stock valued at $53,564,000 after buying an additional 27,173 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analyst Ratings Changes

CHDN has been the topic of several research reports. Mizuho dropped their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Wells Fargo & Company upped 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. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and raised their price target for the stock from $145.00 to $155.00 in a report on Monday, August 12th. Macquarie increased their target price on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Trading Up 1.7 %

Churchill Downs stock opened at $142.38 on Friday. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The company’s fifty day moving average price is $139.02 and its two-hundred day moving average price is $137.96. 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 market capitalization of $10.46 billion, a price-to-earnings ratio of 25.93, a PEG ratio of 3.84 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. During the same period in the prior year, the company earned $0.87 earnings per share. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. On average, analysts forecast that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal 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 given a $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is currently 6.92%.

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.