Thrivent Financial for Lutherans Purchases 1,086 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Thrivent Financial for Lutherans grew its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 17,248 shares of the company’s stock after purchasing an additional 1,086 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Churchill Downs were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of CHDN. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs in the second quarter worth $42,000. CWM LLC lifted its holdings in shares of Churchill Downs by 36.8% in the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after buying an additional 118 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Churchill Downs by 82.8% in the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares in the last quarter. Bank & Trust Co purchased a new position in shares of Churchill Downs in the second quarter worth $84,000. Finally, GAMMA Investing LLC lifted its holdings in shares of Churchill Downs by 72.4% in the second quarter. GAMMA Investing LLC now owns 612 shares of the company’s stock worth $85,000 after buying an additional 257 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

CHDN has been the topic of several research analyst reports. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. 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. Wells Fargo & Company upped their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and upped their price target for the company from $145.00 to $155.00 in a research note on Monday, August 12th. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One 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, Churchill Downs has an average rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Price Performance

Churchill Downs stock opened at $140.22 on Thursday. The firm has a 50-day moving average price of $139.07 and a 200-day moving average price of $138.03. The firm has a market capitalization of $10.31 billion, a PE ratio of 25.66, a price-to-earnings-growth ratio of 3.93 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. 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 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 firm had revenue of $628.50 million during the quarter, compared to analyst estimates of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business earned $0.87 EPS. As a group, equities research analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be issued a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date is Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 6.92%.

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.