Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System decreased its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 130,391 shares of the company’s stock after selling 13,454 shares during the period. California Public Employees Retirement System’s holdings in Churchill Downs were worth $17,594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its position in Churchill Downs by 90.3% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 22,898 shares of the company’s stock worth $2,657,000 after purchasing an additional 10,868 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Churchill Downs by 34.9% during the 3rd quarter. Envestnet Asset Management Inc. now owns 148,035 shares of the company’s stock worth $17,178,000 after buying an additional 38,298 shares during the last quarter. Fifth Third Bancorp raised its position in shares of Churchill Downs by 15.1% in the 4th quarter. Fifth Third Bancorp now owns 1,437 shares of the company’s stock worth $194,000 after buying an additional 189 shares during the period. Vanguard Group Inc. boosted its holdings in Churchill Downs by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock valued at $776,231,000 after acquiring an additional 56,318 shares during the last quarter. Finally, Jennison Associates LLC grew its position in Churchill Downs by 28.9% during the fourth quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock valued at $108,359,000 after acquiring an additional 179,814 shares during the period. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on CHDN shares. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday. Truist Financial boosted their price objective on shares of Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a research note on Friday. Wells Fargo & Company raised shares of Churchill Downs from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $137.00 to $141.00 in a research note on Monday, April 15th. Stifel Nicolaus upped their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday. Finally, JMP Securities reissued a “market outperform” rating and issued a $150.00 price objective on shares of Churchill Downs in a research report on Wednesday, April 10th. 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.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Stock Up 0.5 %

Shares of NASDAQ CHDN opened at $130.14 on Tuesday. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 9.01 and a beta of 1.03. Churchill Downs Incorporated has a 1 year low of $106.45 and a 1 year high of $150.45. The company has a debt-to-equity ratio of 5.88, a quick ratio of 0.50 and a current ratio of 0.50. The stock’s 50-day simple moving average is $120.22 and its 200-day simple moving average is $121.02.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, April 24th. The company reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million for the quarter, compared to analyst estimates of $565.41 million. During the same period in the prior year, the company posted $0.98 EPS. Churchill Downs’s quarterly revenue was up 5.6% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

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; and casino gaming.