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Federated Hermes Inc. reduced its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN – Free Report) by 2.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 7,372 shares of the company’s stock after selling 204 shares during the period. Federated Hermes Inc.’s holdings in Churchill Downs were worth $984,000 at the end of the most recent reporting period.
A number of other hedge funds have also made changes to their positions in the company. Louisiana State Employees Retirement System lifted its stake in Churchill Downs by 0.5% in the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after purchasing an additional 100 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares during the last quarter. Arizona State Retirement System lifted its position in Churchill Downs by 0.6% during the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock worth $2,559,000 after buying an additional 116 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after buying an additional 120 shares during the last quarter. Finally, Cetera Trust Company N.A boosted its position in shares of Churchill Downs by 7.7% during the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock valued at $251,000 after acquiring an additional 135 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently issued reports on CHDN shares. Barclays began coverage on shares of Churchill Downs in a research report on Friday, April 11th. They set an “overweight” rating and a $125.00 price objective for the company. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Stifel Nicolaus lowered their price objective on Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a research report on Thursday, April 10th. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a research note on Tuesday, April 8th. Finally, Mizuho decreased their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $153.44.
Get Our Latest Research Report on CHDN
Churchill Downs Trading Up 1.0 %
CHDN opened at $102.63 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The firm has a market cap of $7.54 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a 52 week low of $96.67 and a 52 week high of $150.21. The business has a fifty day simple moving average of $112.12 and a 200-day simple moving average of $127.11.
Churchill Downs (NASDAQ:CHDN – Get Free Report) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. On average, equities analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.
Churchill Downs Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.
Churchill Downs announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
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.
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Want to see what other hedge funds are holding CHDN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Churchill Downs Incorporated (NASDAQ:CHDN – Free Report).
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