Copeland Capital Management LLC Sells 5,322 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Copeland Capital Management LLC trimmed its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 263,403 shares of the company’s stock after selling 5,322 shares during the period. Copeland Capital Management LLC owned about 0.36% of Churchill Downs worth $35,175,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Independence Bank of Kentucky grew its position in Churchill Downs by 15.3% in the 4th quarter. Independence Bank of Kentucky now owns 16,290 shares of the company’s stock worth $2,175,000 after purchasing an additional 2,161 shares in the last quarter. Hunter Associates Investment Management LLC grew its position in Churchill Downs by 7.9% in the 4th quarter. Hunter Associates Investment Management LLC now owns 25,122 shares of the company’s stock worth $3,346,000 after purchasing an additional 1,844 shares in the last quarter. R Squared Ltd bought a new stake in Churchill Downs in the 4th quarter worth about $55,000. Town & Country Bank & Trust CO dba First Bankers Trust CO grew its position in Churchill Downs by 4.3% in the 4th quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 4,161 shares of the company’s stock worth $556,000 after purchasing an additional 170 shares in the last quarter. Finally, KBC Group NV grew its position in Churchill Downs by 52.1% in the 4th quarter. KBC Group NV now owns 2,541 shares of the company’s stock worth $339,000 after purchasing an additional 870 shares in the last quarter. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $123.58 on Friday. The stock has a market capitalization of $9.08 billion, a P/E ratio of 22.51, a PEG ratio of 3.08 and a beta of 0.96. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. The firm’s 50 day moving average is $132.44 and its 200 day moving average is $136.49. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21.

Churchill Downs Increases Dividend

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

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Mizuho dropped their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Truist Financial reiterated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. 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 given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.