Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lifted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 4,378 shares of the company’s stock after acquiring an additional 366 shares during the period. CIBC Private Wealth Group LLC’s holdings in Churchill Downs were worth $565,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of CHDN. Vanguard Group Inc. grew its position in Churchill Downs by 1.6% in the 4th quarter. Vanguard Group Inc. now owns 6,808,321 shares of the company’s stock worth $909,183,000 after purchasing an additional 107,737 shares during the last quarter. State Street Corp boosted its position in shares of Churchill Downs by 5.8% during the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after buying an additional 114,018 shares during the period. Boston Partners grew its holdings in Churchill Downs by 25.6% in the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock worth $239,619,000 after buying an additional 366,283 shares in the last quarter. Schroder Investment Management Group grew its holdings in Churchill Downs by 5.4% in the 4th quarter. Schroder Investment Management Group now owns 1,499,874 shares of the company’s stock worth $201,223,000 after buying an additional 77,213 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Churchill Downs by 8.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after acquiring an additional 96,910 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on CHDN shares. Mizuho reduced their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. 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. Wells Fargo & Company dropped their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. 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 MarketBeat, Churchill Downs has an average rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Stock Down 5.8 %

NASDAQ CHDN opened at $102.66 on Friday. The company has a market capitalization of $7.54 billion, a P/E ratio of 18.07, a PEG ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a 12 month low of $101.62 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The company’s 50 day simple moving average is $116.11 and its 200 day simple moving average is $129.27.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly 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). The company had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its board has approved a share repurchase plan on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to purchase up to 6.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs 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.