Wells Fargo & Company Lowers Churchill Downs (NASDAQ:CHDN) Price Target to $165.00

Churchill Downs (NASDAQ:CHDN) had its price objective cut by Wells Fargo & Company from $168.00 to $165.00 in a research report released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other research firms have also recently issued reports on CHDN. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho decreased their price target 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 reissued a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $160.50.

Churchill Downs Trading Up 0.3 %

Shares of CHDN stock opened at $122.43 on Monday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a market cap of $9.00 billion, a PE ratio of 22.30, a P/E/G ratio of 3.05 and a beta of 0.95. The stock’s fifty day moving average price is $130.21 and its two-hundred day moving average price is $135.72.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is 7.47%.

Institutional Investors Weigh In On Churchill Downs

Several institutional investors and hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC bought a new stake in shares of Churchill Downs in the 2nd quarter valued at $209,000. Creative Planning lifted its holdings in Churchill Downs by 14.3% in the second quarter. Creative Planning now owns 4,035 shares of the company’s stock valued at $563,000 after buying an additional 504 shares during the period. GAMMA Investing LLC boosted its position in Churchill Downs by 42.8% during the third quarter. GAMMA Investing LLC now owns 874 shares of the company’s stock valued at $118,000 after acquiring an additional 262 shares during the last quarter. Brookstone Capital Management acquired a new stake in Churchill Downs during the 3rd quarter worth about $245,000. Finally, UMB Bank n.a. raised its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

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.