Loomis Sayles & Co. L P Trims Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Loomis Sayles & Co. L P trimmed its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 0.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 427,666 shares of the company’s stock after selling 548 shares during the period. Loomis Sayles & Co. L P owned approximately 0.58% of Churchill Downs worth $57,110,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. grew its holdings in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Churchill Downs during the third quarter valued at about $27,000. Fortitude Family Office LLC lifted its holdings in shares of Churchill Downs by 2,733.3% in the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after acquiring an additional 246 shares during the last quarter. Eagle Bay Advisors LLC purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter valued at approximately $55,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of CHDN opened at $113.43 on Thursday. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm’s fifty day simple moving average is $118.31 and its 200-day simple moving average is $130.68. The firm has a market capitalization of $8.34 billion, a price-to-earnings ratio of 19.97, a PEG ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million for the quarter, compared to analysts’ expectations of $620.21 million. Equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on CHDN shares. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus cut their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho cut their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Finally, Wells Fargo & Company decreased their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

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.