Churchill Downs Incorporated (NASDAQ:CHDN) Position Reduced by JLB & Associates Inc.

JLB & Associates Inc. decreased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 15.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,762 shares of the company’s stock after selling 500 shares during the period. JLB & Associates Inc.’s holdings in Churchill Downs were worth $369,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Aigen Investment Management LP bought a new stake in Churchill Downs during the third quarter worth approximately $516,000. Westfield Capital Management Co. LP raised its holdings in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Atria Investments Inc raised its holdings in Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after purchasing an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Churchill Downs by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Churchill Downs by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on CHDN shares. Mizuho decreased their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. JMP Securities restated a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Truist Financial restated 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 decreased their price target on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a research report on Monday, February 10th. Finally, StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.13.

Churchill Downs Trading Down 0.4 %

NASDAQ CHDN opened at $119.05 on Friday. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. 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 market cap of $8.75 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 3.01 and a beta of 0.95. The firm’s 50 day moving average price is $127.31 and its two-hundred day moving average price is $134.67.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The company had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. Equities analysts anticipate that Churchill Downs Incorporated will post 5.99 EPS for the current year.

Churchill Downs Increases Dividend

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

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.