Churchill Downs Incorporated (NASDAQ:CHDN) Shares Acquired by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 15.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 509,743 shares of the company's stock after purchasing an additional 66,731 shares during the quarter. Dimensional Fund Advisors LP owned 0.69% of Churchill Downs worth $68,075,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Louisiana State Employees Retirement System raised its position in shares of Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company's stock valued at $2,724,000 after buying an additional 100 shares during the period. 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. Arizona State Retirement System increased its position in shares of Churchill Downs by 0.6% during the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company's stock worth $2,559,000 after purchasing an additional 116 shares during the last quarter. CIBC Asset Management Inc boosted its stake in Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company's stock worth $301,000 after buying an additional 120 shares during the period. Finally, Cetera Trust Company N.A increased its position in shares of Churchill Downs by 7.7% during the fourth quarter. Cetera Trust Company N.A now owns 1,877 shares of the company's stock valued at $251,000 after acquiring an additional 135 shares during 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 have weighed in on CHDN shares. StockNews.com raised Churchill Downs from a "sell" rating to a "hold" rating in a research report on Thursday, April 24th. Susquehanna decreased their target price on Churchill Downs from $150.00 to $136.00 and set a "positive" rating for the company in a report on Tuesday, April 22nd. Stifel Nicolaus reduced their price target on 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 lowered their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating for the company in a research report on Friday, February 21st. Finally, Macquarie decreased their price target on shares of Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $144.80.

Churchill Downs Stock Performance

Shares of CHDN stock traded up $2.28 during mid-day trading on Friday, hitting $93.23. 802,898 shares of the stock were exchanged, compared to its average volume of 539,898. The stock's fifty day simple moving average is $105.78 and its two-hundred day simple moving average is $123.29. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a 12-month low of $85.58 and a 12-month high of $150.21. The stock has a market capitalization of $6.73 billion, a price-to-earnings ratio of 16.41, a P/E/G ratio of 2.95 and a beta of 0.86.

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

Churchill Downs Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.26%. Churchill Downs's payout ratio is 7.12%.

Churchill Downs declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are often 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.