Parthenon LLC Has $9.76 Million Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Parthenon LLC grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,086 shares of the company’s stock after acquiring an additional 1,174 shares during the period. Churchill Downs accounts for approximately 1.2% of Parthenon LLC’s investment portfolio, making the stock its 26th biggest holding. Parthenon LLC owned approximately 0.10% of Churchill Downs worth $9,760,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Winslow Asset Management Inc. increased its holdings in Churchill Downs by 2.8% in the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock worth $443,000 after purchasing an additional 90 shares in the last quarter. Venturi Wealth Management LLC increased its stake in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares in the last quarter. Commerce Bank lifted its position in shares of Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after acquiring an additional 90 shares during the period. Louisiana State Employees Retirement System boosted its stake in Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after acquiring an additional 100 shares in the last quarter. Finally, Blue Trust Inc. increased its stake in 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 purchasing an additional 103 shares in the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on CHDN shares. Truist Financial restated 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. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. Finally, JMP Securities reiterated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. One investment 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 company has a consensus rating of “Moderate Buy” and a consensus price target of $160.13.

Churchill Downs Trading Down 1.7 %

NASDAQ:CHDN opened at $119.54 on Thursday. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. The firm has a 50-day moving average price of $127.68 and a two-hundred day moving average price of $134.78. 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 firm has a market cap of $8.79 billion, a price-to-earnings ratio of 21.77, a price-to-earnings-growth ratio of 3.02 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. On average, equities analysts expect that Churchill Downs Incorporated will post 5.99 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

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