Barclays PLC Raises Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Barclays PLC raised its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 114.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,532 shares of the company's stock after purchasing an additional 33,948 shares during the period. Barclays PLC owned 0.09% of Churchill Downs worth $8,483,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Truist Financial Corp raised its stake in Churchill Downs by 22.1% during the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company's stock valued at $3,958,000 after buying an additional 5,372 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Churchill Downs by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 605,355 shares of the company's stock worth $80,839,000 after purchasing an additional 10,153 shares during the last quarter. Proficio Capital Partners LLC bought a new position in Churchill Downs in the 4th quarter worth about $1,927,000. Optimize Financial Inc purchased a new stake in Churchill Downs during the 4th quarter valued at about $516,000. Finally, JPMorgan Chase & Co. increased its stake in Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company's stock valued at $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. JMP Securities reaffirmed a "market outperform" rating and issued a $157.00 price objective on shares of Churchill Downs in a research report on Thursday, April 24th. Mizuho reduced their price target on shares of Churchill Downs from $148.00 to $140.00 and set an "outperform" rating for the company in a research note on Tuesday, April 22nd. Stifel Nicolaus lowered their price objective on shares of Churchill Downs from $161.00 to $142.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company decreased their target price on shares of Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research note on Friday, February 21st. Finally, Truist Financial dropped their price target on Churchill Downs from $162.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. One equities research analyst has rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $144.80.

Churchill Downs Price Performance

CHDN traded down $0.48 during trading on Tuesday, reaching $88.89. 187,584 shares of the company traded hands, compared to its average volume of 532,231. Churchill Downs Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The firm has a fifty day simple moving average of $107.76 and a 200 day simple moving average of $124.51. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company has a market cap of $6.53 billion, a P/E ratio of 15.72, a PEG ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The company reported $1.07 EPS for the quarter, missing the consensus estimate of $1.08 by ($0.01). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. During the same period last year, the company earned $1.13 EPS. The firm's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.27%. Churchill Downs's payout ratio is 7.12%.

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

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.