Bank of Montreal Can Has $904,000 Holdings in Churchill Downs, Incorporated $CHDN

Bank of Montreal Can decreased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,951 shares of the company’s stock after selling 781 shares during the period. Bank of Montreal Can’s holdings in Churchill Downs were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. South Dakota Investment Council acquired a new stake in Churchill Downs during the 2nd quarter valued at $1,603,000. Retirement Systems of Alabama boosted its stake in Churchill Downs by 9.6% in the second quarter. Retirement Systems of Alabama now owns 198,278 shares of the company’s stock worth $20,026,000 after purchasing an additional 17,438 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Churchill Downs by 132.2% during the second quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock worth $47,000 after purchasing an additional 267 shares during the last quarter. Winebrenner Capital Management LLC increased its stake in shares of Churchill Downs by 6.6% in the second quarter. Winebrenner Capital Management LLC now owns 4,538 shares of the company’s stock valued at $458,000 after buying an additional 280 shares in the last quarter. Finally, Teacher Retirement System of Texas increased its stake in shares of Churchill Downs by 1.7% in the second quarter. Teacher Retirement System of Texas now owns 11,153 shares of the company’s stock valued at $1,126,000 after buying an additional 183 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

CHDN has been the topic of several research reports. Susquehanna reiterated a “positive” rating and set a $124.00 price target (down previously from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Barclays boosted their target price on shares of Churchill Downs from $131.00 to $132.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Macquarie reissued an “outperform” rating and set a $155.00 price target on shares of Churchill Downs in a research note on Friday, October 24th. JPMorgan Chase & Co. dropped their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Finally, Mizuho increased their price objective on Churchill Downs from $134.00 to $136.00 and gave the company an “outperform” rating in a research report on Tuesday, July 22nd. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and an average target price of $137.60.

Churchill Downs Price Performance

Shares of CHDN opened at $99.29 on Friday. The stock has a market cap of $6.92 billion, a P/E ratio of 18.05, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a 1 year low of $85.58 and a 1 year high of $144.23. The stock’s 50-day moving average price is $96.42 and its two-hundred day moving average price is $99.38. 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 announced its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The company had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. During the same period in the prior year, the business posted $0.97 EPS. Churchill Downs’s revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be paid a $0.438 dividend. The ex-dividend date of this dividend is Friday, December 5th. This is a boost from Churchill Downs’s previous annual dividend of $0.41. This represents a yield of 46.0%. Churchill Downs’s payout ratio is currently 7.82%.

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.