Swiss National Bank Trims Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Swiss National Bank reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.9% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 129,200 shares of the company’s stock after selling 1,200 shares during the period. Swiss National Bank’s holdings in Churchill Downs were worth $17,469,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kimelman & Baird LLC purchased a new stake in Churchill Downs in the 2nd quarter valued at about $42,000. CWM LLC raised its holdings 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 buying an additional 118 shares during the period. UMB Bank n.a. raised its holdings in Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after buying an additional 255 shares during the period. Bank & Trust Co purchased a new stake in Churchill Downs in the 2nd quarter valued at about $84,000. Finally, GAMMA Investing LLC raised its holdings in Churchill Downs by 72.4% in the 2nd quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after buying an additional 257 shares during the period. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $141.87 on Friday. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The company has a market cap of $10.43 billion, a PE ratio of 25.84, a P/E/G ratio of 3.84 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 has a 50-day simple moving average of $139.05 and a 200-day simple moving average of $138.00.

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

Churchill Downs Increases Dividend

The firm also recently declared 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%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date is Friday, December 6th. Churchill Downs’s dividend payout ratio is 6.92%.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHDN. Mizuho reduced their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Truist Financial reaffirmed a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Bank of America raised Churchill Downs from a “neutral” rating to a “buy” rating and lifted their target price for the company from $145.00 to $155.00 in a research report on Monday, August 12th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Monday, October 14th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

About Churchill Downs

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.