Price T Rowe Associates Inc. MD Boosts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Price T Rowe Associates Inc. MD raised its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 493,044 shares of the company's stock after purchasing an additional 3,388 shares during the quarter. Price T Rowe Associates Inc. MD owned 0.67% of Churchill Downs worth $65,842,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. grew its stake in Churchill Downs by 127.2% in the 4th quarter. Blue Trust Inc. now owns 184 shares of the company's stock valued at $25,000 after purchasing an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC increased its stake in Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company's stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the 4th quarter worth $55,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CHDN shares. Susquehanna dropped their price target on shares of Churchill Downs from $150.00 to $136.00 and set a "positive" rating on the stock in a research report on Tuesday, April 22nd. Jefferies Financial Group decreased their target price on shares of Churchill Downs from $160.00 to $127.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Barclays decreased their target price on shares of Churchill Downs from $125.00 to $124.00 and set an "overweight" rating on the stock in a research report on Friday, April 25th. Macquarie reduced their target price on Churchill Downs from $172.00 to $154.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, StockNews.com raised shares of Churchill Downs from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $144.80.

Churchill Downs Price Performance

CHDN traded up $2.28 during trading on Friday, reaching $93.23. 802,898 shares of the stock were exchanged, compared to its average volume of 540,144. Churchill Downs Incorporated has a 1 year low of $85.58 and a 1 year high of $150.21. The company 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. The business's 50 day moving average price is $106.20 and its two-hundred day moving average price is $123.72. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55.

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 the consensus estimate of $1.08 by ($0.01). The firm had revenue of $642.60 million during the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The company's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.13 earnings per share. As a group, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.26%. Churchill Downs's dividend payout ratio (DPR) is currently 7.12%.

Churchill Downs announced that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically a sign that the company's board believes its stock is undervalued.

Churchill Downs 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.