US Bancorp DE Sells 321 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

US Bancorp DE reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,082 shares of the company’s stock after selling 321 shares during the period. US Bancorp DE’s holdings in Churchill Downs were worth $822,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. New York State Teachers Retirement System increased its holdings in shares of Churchill Downs by 6.7% in the 3rd quarter. New York State Teachers Retirement System now owns 58,971 shares of the company’s stock worth $7,973,000 after buying an additional 3,727 shares during the last quarter. Hunter Associates Investment Management LLC increased its holdings in shares of Churchill Downs by 14.2% in the 3rd quarter. Hunter Associates Investment Management LLC now owns 23,278 shares of the company’s stock worth $3,147,000 after buying an additional 2,886 shares during the last quarter. J.W. Cole Advisors Inc. bought a new stake in shares of Churchill Downs in the 3rd quarter worth about $344,000. State of Alaska Department of Revenue increased its holdings in shares of Churchill Downs by 15.8% in the 3rd quarter. State of Alaska Department of Revenue now owns 8,526 shares of the company’s stock worth $1,152,000 after buying an additional 1,165 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Churchill Downs by 7.4% in the 3rd quarter. Louisiana State Employees Retirement System now owns 20,300 shares of the company’s stock worth $2,745,000 after buying an additional 1,400 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Macquarie lifted their price target on shares of Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $145.00 to $155.00 in a research note on Monday, August 12th. Truist Financial reissued a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Stifel Nicolaus boosted their price objective on shares of Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research report on Monday, July 22nd. Finally, JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Monday, October 14th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Trading Down 0.7 %

Shares of Churchill Downs stock opened at $145.32 on Friday. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The firm has a market capitalization of $10.68 billion, a price-to-earnings ratio of 26.47, a PEG ratio of 4.08 and a beta of 0.96. The firm’s 50 day simple moving average is $138.71 and its two-hundred day simple moving average is $137.34.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business had revenue of $628.50 million for 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be paid a $0.409 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is presently 6.92%.

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.