Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2.7% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 21,218 shares of the company’s stock after selling 580 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Churchill Downs were worth $2,869,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of CHDN. Winslow Asset Management Inc. grew its holdings in Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after acquiring an additional 90 shares during the period. Venturi Wealth Management LLC boosted its position in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank grew its stake in shares of Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after purchasing an additional 90 shares during the period. First Horizon Advisors Inc. increased its holdings in shares of Churchill Downs by 13.8% during the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock valued at $114,000 after purchasing an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its stake in shares of Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock valued at $986,000 after purchasing an additional 105 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ:CHDN opened at $136.05 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The firm has a market capitalization of $10.00 billion, a PE ratio of 24.78, a P/E/G ratio of 3.84 and a beta of 0.95. The business’s 50 day moving average price is $140.03 and its 200-day moving average price is $138.51.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million for 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%. The firm’s quarterly 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. As a group, equities research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a 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 currently 7.29%.

Analyst Upgrades and Downgrades

CHDN has been the topic of several analyst reports. JMP Securities restated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Monday, October 14th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. Wells Fargo & Company raised their price objective on Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs 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.