Loomis Sayles & Co. L P Cuts Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Loomis Sayles & Co. L P lessened its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 428,214 shares of the company’s stock after selling 4,538 shares during the quarter. Loomis Sayles & Co. L P owned 0.58% of Churchill Downs worth $57,899,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in CHDN. Kimelman & Baird LLC purchased a new position in Churchill Downs in the second quarter worth approximately $42,000. CWM LLC grew its stake in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares in the last quarter. UMB Bank n.a. grew 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 worth $76,000 after purchasing an additional 255 shares in the last quarter. Bank & Trust Co acquired a new stake in Churchill Downs in the second quarter valued at $84,000. Finally, GAMMA Investing LLC raised its stake in Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock valued at $85,000 after buying an additional 257 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Trading Down 0.4 %

Shares of Churchill Downs stock opened at $141.87 on Monday. The company’s fifty day moving average is $139.05 and its two-hundred day moving average is $137.99. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. 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 company has a market capitalization of $10.43 billion, a P/E ratio of 25.84, a PEG ratio of 3.93 and a beta of 0.96.

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

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date is Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 6.92%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research report on Thursday, October 17th. Mizuho lowered their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Bank of America upgraded shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their target price for the company from $145.00 to $155.00 in a report on Monday, August 12th. Finally, JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research note on Monday, October 14th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price 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.