B. Metzler seel. Sohn & Co. AG Grows Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

B. Metzler seel. Sohn & Co. AG increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 20.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 20,954 shares of the company’s stock after acquiring an additional 3,550 shares during the quarter. B. Metzler seel. Sohn & Co. AG’s holdings in Churchill Downs were worth $2,798,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in the business. Blue Trust Inc. raised its position in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Churchill Downs in the 3rd quarter worth $27,000. Fortitude Family Office LLC raised its holdings in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new position in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd bought a new stake in Churchill Downs during the fourth quarter valued at about $55,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $110.72 on Wednesday. The company has a market cap of $8.14 billion, a P/E ratio of 19.49, a P/E/G ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 52-week low of $105.18 and a 52-week high of $150.21. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The firm’s fifty day moving average is $117.16 and its two-hundred day moving average is $129.80.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. As a group, analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its board has initiated a share buyback plan on Wednesday, March 12th that allows the company to buyback $500.00 million in outstanding shares. This buyback authorization allows the company to reacquire up to 6.4% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s leadership believes its shares are undervalued.

Churchill Downs Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.22%. Churchill Downs’s dividend payout ratio is currently 7.04%.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Stifel Nicolaus decreased their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Mizuho decreased their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $159.38.

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.