State of New Jersey Common Pension Fund D Purchases 792 Shares of Churchill Downs, Incorporated $CHDN

State of New Jersey Common Pension Fund D grew its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.1% in the second quarter, according to its most recent filing with the SEC. The fund owned 20,215 shares of the company’s stock after acquiring an additional 792 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Churchill Downs were worth $2,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. JLB & Associates Inc. boosted its position in shares of Churchill Downs by 3.8% during the 2nd quarter. JLB & Associates Inc. now owns 2,867 shares of the company’s stock valued at $290,000 after acquiring an additional 105 shares during the last quarter. OneDigital Investment Advisors LLC boosted its position in shares of Churchill Downs by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock valued at $360,000 after acquiring an additional 130 shares during the last quarter. Aristides Capital LLC boosted its position in shares of Churchill Downs by 5.7% during the 1st quarter. Aristides Capital LLC now owns 2,462 shares of the company’s stock valued at $273,000 after acquiring an additional 132 shares during the last quarter. Foundations Investment Advisors LLC raised its holdings in Churchill Downs by 0.3% during the 1st quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company’s stock valued at $4,925,000 after buying an additional 138 shares during the period. Finally, Bessemer Group Inc. raised its holdings in Churchill Downs by 2.8% during the 1st quarter. Bessemer Group Inc. now owns 6,348 shares of the company’s stock valued at $705,000 after buying an additional 175 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on CHDN shares. Barclays increased their price target on Churchill Downs from $131.00 to $132.00 and gave the company an “overweight” rating in a report on Friday, October 24th. Truist Financial decreased their price target on Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a report on Wednesday, July 16th. Macquarie restated an “outperform” rating and set a $155.00 price target on shares of Churchill Downs in a report on Friday, October 24th. Susquehanna restated a “positive” rating and set a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Finally, Mizuho increased their price target on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a report on Tuesday, July 22nd. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $137.60.

Churchill Downs Stock Up 1.0%

NASDAQ:CHDN opened at $100.64 on Thursday. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company has a market cap of $7.02 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 1.82 and a beta of 0.83. The stock has a fifty day simple moving average of $97.41 and a 200-day simple moving average of $99.27. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. During the same period last year, the company earned $0.97 earnings per share. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. Analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. This represents a dividend yield of 46.0%. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. Churchill Downs’s dividend payout ratio is 7.45%.

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.