Argent Capital Management LLC Purchases 1,893 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Argent Capital Management LLC boosted its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 9.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,435 shares of the company’s stock after acquiring an additional 1,893 shares during the period. Argent Capital Management LLC’s holdings in Churchill Downs were worth $2,862,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Churchill Downs in the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC increased its stake in Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Churchill Downs in the second quarter worth $42,000. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth $55,000. Finally, UMB Bank n.a. increased its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Churchill Downs stock opened at $126.89 on Thursday. The company has a fifty day simple moving average of $136.33 and a 200-day simple moving average of $137.75. The firm has a market capitalization of $9.33 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 3.84 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter in the previous year, the company posted $0.87 EPS. The company’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.29%.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Mizuho cut their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Truist Financial restated a “buy” rating and set a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, December 19th. Finally, Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

About Churchill Downs

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.