Kentucky Trust Co Takes $134,000 Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Kentucky Trust Co acquired a new stake in Churchill Downs Incorporated (NASDAQ:CHDN) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,000 shares of the company’s stock, valued at approximately $134,000.

Other hedge funds also recently made changes to their positions in the company. Blue Trust Inc. lifted its position 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 last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $27,000. Fortitude Family Office LLC lifted its position in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in shares of Churchill Downs during the fourth quarter worth approximately $55,000. Finally, R Squared Ltd acquired a new stake in Churchill Downs during the 4th quarter worth approximately $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on CHDN shares. Wells Fargo & Company dropped their price target on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial reissued a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Mizuho dropped their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $160.50.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $120.90 on Thursday. The stock has a market capitalization of $8.89 billion, a PE ratio of 22.02, a P/E/G ratio of 3.05 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The business has a fifty day moving average price of $129.42 and a two-hundred day moving average price of $135.47. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. The ex-dividend date 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 payout ratio is currently 7.47%.

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.