Wells Fargo & Company MN Has $15.35 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Wells Fargo & Company MN increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN - Free Report) by 2.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 114,935 shares of the company's stock after purchasing an additional 3,040 shares during the period. Wells Fargo & Company MN owned approximately 0.16% of Churchill Downs worth $15,348,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CHDN. RFG Bristol Wealth Advisors LLC bought a new position in shares of Churchill Downs during the 4th quarter worth approximately $1,643,000. Headlands Technologies LLC raised its stake in Churchill Downs by 116.8% during the fourth quarter. Headlands Technologies LLC now owns 3,218 shares of the company's stock worth $430,000 after acquiring an additional 1,734 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Churchill Downs by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 1,309,460 shares of the company's stock valued at $174,917,000 after purchasing an additional 10,018 shares in the last quarter. Diametric Capital LP grew its holdings in shares of Churchill Downs by 6.2% in the 4th quarter. Diametric Capital LP now owns 6,649 shares of the company's stock worth $888,000 after purchasing an additional 387 shares during the last quarter. Finally, HighPoint Advisor Group LLC increased its position in shares of Churchill Downs by 25.2% during the 4th quarter. HighPoint Advisor Group LLC now owns 2,797 shares of the company's stock worth $341,000 after purchasing an additional 563 shares in the last quarter. Institutional investors own 82.59% of the company's stock.

Analysts Set New Price Targets

A number of research firms have commented on CHDN. StockNews.com lowered shares of Churchill Downs from a "hold" rating to a "sell" rating in a research report on Tuesday, April 8th. Barclays began coverage on Churchill Downs in a research report on Friday, April 11th. They set an "overweight" rating and a $125.00 price target on the stock. Stifel Nicolaus dropped their price target on Churchill Downs from $161.00 to $142.00 and set a "buy" rating for the company in a report on Thursday, April 10th. JMP Securities restated a "market outperform" rating and set a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Wells Fargo & Company decreased their price objective on Churchill Downs from $165.00 to $158.00 and set an "overweight" rating on the stock in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $153.44.

Churchill Downs Stock Up 0.4 %

Shares of NASDAQ:CHDN traded up $0.37 during trading on Friday, hitting $101.36. 617,923 shares of the company were exchanged, compared to its average volume of 506,716. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week high of $150.21. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a fifty day moving average price of $110.87 and a two-hundred day moving average price of $126.39. The stock has a market cap of $7.45 billion, a price-to-earnings ratio of 17.85, a P/E/G ratio of 2.95 and a beta of 0.86.

Churchill Downs (NASDAQ:CHDN - Get Free Report) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts' consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. The business had revenue of $624.20 million during the quarter, compared to the consensus estimate of $620.21 million. As a group, research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.24%. Churchill Downs's dividend payout ratio is currently 7.04%.

Churchill Downs declared that its Board of Directors has authorized a share buyback program on Wednesday, March 12th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 6.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are 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.