Public Employees Retirement System of Ohio Sells 1,262 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Public Employees Retirement System of Ohio cut its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,781 shares of the company’s stock after selling 1,262 shares during the period. Public Employees Retirement System of Ohio’s holdings in Churchill Downs were worth $3,486,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in CHDN. MML Investors Services LLC boosted its position in shares of Churchill Downs by 8.7% during the 3rd quarter. MML Investors Services LLC now owns 27,510 shares of the company’s stock valued at $3,720,000 after acquiring an additional 2,198 shares during the last quarter. XTX Topco Ltd lifted its position in Churchill Downs by 3.1% during the third quarter. XTX Topco Ltd now owns 6,564 shares of the company’s stock valued at $888,000 after purchasing an additional 195 shares during the last quarter. Castleark Management LLC grew its stake in shares of Churchill Downs by 12.6% in the 3rd quarter. Castleark Management LLC now owns 49,870 shares of the company’s stock worth $6,743,000 after buying an additional 5,590 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new stake in shares of Churchill Downs in the 3rd quarter worth about $18,368,000. Finally, State Street Corp raised its position in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after buying an additional 114,018 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.0 %

Shares of CHDN opened at $136.05 on Monday. The firm has a fifty day moving average price of $140.03 and a 200-day moving average price of $138.57. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm has a market capitalization of $10.00 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.84 and a beta of 0.95. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data 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. The company had revenue of $628.50 million during 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 period in the previous year, the company earned $0.87 EPS. Equities research analysts expect that Churchill Downs Incorporated will post 5.86 earnings per share for the current year.

Churchill Downs Increases Dividend

The company 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 $0.409 dividend. The ex-dividend date is Friday, December 6th. This represents a yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Mizuho decreased their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company lifted their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, JMP Securities reaffirmed 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 investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.