Churchill Downs, Incorporated $CHDN Shares Acquired by Copeland Capital Management LLC

Key Points

• Copeland Capital Management LLC increased its shares in Churchill Downs, Incorporated by 5.8%, owning a total of 270,872 shares valued at approximately $27.36 million.
• Churchill Downs reported a net margin of 15.22% and a year-over-year revenue increase of 4.9%, achieving quarterly earnings per share of $3.10, surpassing expectations.
• Eight firms have recently raised their price targets on Churchill Downs stock, with an average consensus target of $136.50 and a consensus rating of "Buy".

Copeland Capital Management LLC raised its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 5.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 270,872 shares of the company's stock after purchasing an additional 14,824 shares during the period. Copeland Capital Management LLC owned 0.38% of Churchill Downs worth $27,358,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Truist Financial Corp increased its position in shares of Churchill Downs by 8.6% in the 2nd quarter. Truist Financial Corp now owns 32,287 shares of the company's stock valued at $3,261,000 after acquiring an additional 2,555 shares during the period. JLB & Associates Inc. increased its position in shares of Churchill Downs by 3.8% in the 2nd quarter. JLB & Associates Inc. now owns 2,867 shares of the company's stock valued at $290,000 after acquiring an additional 105 shares during the period. Independence Bank of Kentucky increased its position in shares of Churchill Downs by 3.0% in the 2nd quarter. Independence Bank of Kentucky now owns 19,046 shares of the company's stock valued at $1,924,000 after acquiring an additional 557 shares during the period. Signaturefd LLC increased its position in shares of Churchill Downs by 161.1% in the 2nd quarter. Signaturefd LLC now owns 329 shares of the company's stock valued at $33,000 after acquiring an additional 203 shares during the period. Finally, Town & Country Bank & Trust CO dba First Bankers Trust CO increased its position in shares of Churchill Downs by 218.0% in the 2nd quarter. Town & Country Bank & Trust CO dba First Bankers Trust CO now owns 13,233 shares of the company's stock valued at $1,337,000 after acquiring an additional 9,072 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $96.02 on Friday. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $150.21. The company has a debt-to-equity ratio of 4.74, a quick ratio of 0.60 and a current ratio of 0.60. The firm has a market cap of $6.73 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.81 and a beta of 0.83. The firm's fifty day moving average is $101.46 and its two-hundred day moving average is $101.19.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The company reported $3.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.03 by $0.07. Churchill Downs had a net margin of 15.22% and a return on equity of 41.46%. The business had revenue of $934.40 million for the quarter, compared to analyst estimates of $924.36 million. During the same period in the prior year, the company posted $2.89 EPS. The company's revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Churchill Downs in a research report on Monday, June 23rd. They issued an "overweight" rating and a $116.00 target price on the stock. Macquarie upped their target price on Churchill Downs from $150.00 to $155.00 and gave the company an "outperform" rating in a research report on Monday, July 28th. Stifel Nicolaus upped their target price on Churchill Downs from $130.00 to $133.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Susquehanna upped their price target on shares of Churchill Downs from $121.00 to $126.00 and gave the company a "positive" rating in a report on Wednesday, July 23rd. Finally, Truist Financial lowered their price target on shares of Churchill Downs from $150.00 to $145.00 and set a "buy" rating on the stock in a report on Wednesday, July 16th. Ten equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of "Buy" and a consensus price target of $136.50.

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.

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