KBC Group NV Acquires 870 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

KBC Group NV grew its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 52.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,541 shares of the company’s stock after acquiring an additional 870 shares during the quarter. KBC Group NV’s holdings in Churchill Downs were worth $339,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Aigen Investment Management LP bought a new stake in shares of Churchill Downs during the third quarter worth about $516,000. Westfield Capital Management Co. LP increased its stake in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Atria Investments Inc boosted its position in shares of Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after purchasing an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after acquiring an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its position in Churchill Downs by 7.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after purchasing an additional 12,226 shares during the period. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

CHDN has been the topic of several recent analyst reports. Truist Financial restated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Wells Fargo & Company increased their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Finally, Mizuho decreased their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Down 0.4 %

Churchill Downs stock opened at $123.09 on Tuesday. The stock has a fifty day moving average of $132.06 and a 200 day moving average of $136.32. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a market cap of $9.05 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 3.06 and a beta of 0.96.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is 7.29%.

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.