Copeland Capital Management LLC Has $23.86 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Key Points

• Copeland Capital Management LLC increased its stake in Churchill Downs by 9.9% in the first quarter, holding 265,569 shares valued at about $23.86 million.
• Churchill Downs reported better-than-expected quarterly earnings, posting $1.21 EPS versus estimates of $1.06, with revenue of $663 million and year-over-year revenue growth of 3.1%.
• Wall Street remains broadly bullish on the stock, with nine Buy ratings and a consensus “Moderate Buy” target price of $138.50, though one analyst has a Sell rating.

Copeland Capital Management LLC grew its holdings in Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 9.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 265,569 shares of the company's stock after acquiring an additional 23,996 shares during the period. Copeland Capital Management LLC owned 0.38% of Churchill Downs worth $23,856,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Measured Wealth Private Client Group LLC bought a new position in shares of Churchill Downs during the 3rd quarter valued at $25,000. Geneos Wealth Management Inc. boosted its holdings in Churchill Downs by 1,364.7% in the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company's stock worth $28,000 after purchasing an additional 232 shares in the last quarter. Parkside Financial Bank & Trust increased its position in Churchill Downs by 293.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company's stock worth $29,000 after buying an additional 191 shares during the last quarter. Root Financial Partners LLC increased its position in Churchill Downs by 1,173.1% during the first quarter. Root Financial Partners LLC now owns 331 shares of the company's stock worth $30,000 after buying an additional 305 shares during the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Churchill Downs during the fourth quarter worth $38,000. 82.59% of the stock is owned by institutional investors.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $83.95 on Friday. Churchill Downs, Incorporated has a one year low of $80.24 and a one year high of $118.46. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 15.55, a PEG ratio of 0.57 and a beta of 0.67. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The business has a fifty day simple moving average of $87.00 and a 200 day simple moving average of $92.32.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15. The business had revenue of $663.00 million for the quarter, compared to analyst estimates of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The firm's revenue was up 3.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.07 EPS. Sell-side analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on CHDN. Citizens Jmp boosted their price target on Churchill Downs from $146.00 to $149.00 and gave the stock a "market outperform" rating in a research report on Friday, April 24th. Truist Financial set a $145.00 price objective on Churchill Downs in a report on Friday, June 12th. Jefferies Financial Group reissued a "buy" rating on shares of Churchill Downs in a report on Thursday, July 2nd. Citigroup reissued an "outperform" rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Wells Fargo & Company reduced their target price on Churchill Downs from $132.00 to $120.00 and set an "overweight" rating for the company in a report on Tuesday. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, Churchill Downs currently has a consensus rating of "Moderate Buy" and a consensus target price of $138.50.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.

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