Stock Yards Bank & Trust Co. Decreases Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Stock Yards Bank & Trust Co. decreased its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 251,547 shares of the company’s stock after selling 1,377 shares during the period. Churchill Downs comprises approximately 1.2% of Stock Yards Bank & Trust Co.’s portfolio, making the stock its 29th biggest holding. Stock Yards Bank & Trust Co. owned 0.34% of Churchill Downs worth $33,592,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its stake in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the 3rd quarter worth about $27,000. Fortitude Family Office LLC raised its stake in Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares during the period. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs during the fourth quarter valued at about $55,000. Finally, R Squared Ltd bought a new position in Churchill Downs during the fourth quarter worth about $55,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $123.58 on Monday. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.08 and a beta of 0.96. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The stock has a fifty day moving average of $132.44 and a 200 day moving average of $136.44. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were issued a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s payout ratio is presently 7.47%.

Analyst Upgrades and Downgrades

CHDN has been the topic of several research reports. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. 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 report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho decreased their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.88.

Churchill Downs Company 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.