Stifel Financial Corp Sells 1,346 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Stifel Financial Corp lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.2% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 31,017 shares of the company’s stock after selling 1,346 shares during the period. Stifel Financial Corp’s holdings in Churchill Downs were worth $4,194,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Kimelman & Baird LLC bought a new position in shares of Churchill Downs in the 2nd quarter worth approximately $42,000. CWM LLC raised its stake in Churchill Downs by 36.8% during the 2nd quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after acquiring an additional 118 shares during the period. UMB Bank n.a. raised its stake in Churchill Downs by 82.8% during 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 during the period. Venturi Wealth Management LLC raised its stake in Churchill Downs by 13.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after acquiring an additional 90 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in Churchill Downs during the 2nd quarter valued at approximately $112,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Down 1.0 %

NASDAQ CHDN opened at $136.05 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a fifty day moving average of $140.03 and a two-hundred day moving average of $138.57. The firm has a market capitalization of $10.00 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 3.84 and a beta of 0.95. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. The company 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%. Churchill Downs’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.87 earnings per share. On average, analysts predict 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. Shareholders of record on Friday, December 6th will be paid a dividend of $0.409 per share. This represents a yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s payout ratio is presently 7.29%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on CHDN. Wells Fargo & Company increased their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Mizuho cut their price objective on shares of 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. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

Churchill Downs Company 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.