Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC increased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 24.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,355 shares of the company’s stock after purchasing an additional 1,810 shares during the period. Empowered Funds LLC’s holdings in Churchill Downs were worth $1,265,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of CHDN. CANADA LIFE ASSURANCE Co grew its stake in Churchill Downs by 0.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 40,359 shares of the company’s stock worth $4,988,000 after acquiring an additional 230 shares during the period. Janus Henderson Group PLC grew its stake in Churchill Downs by 6.7% in the 1st quarter. Janus Henderson Group PLC now owns 432,867 shares of the company’s stock worth $53,564,000 after acquiring an additional 27,173 shares during the period. B. Riley Wealth Advisors Inc. purchased a new stake in Churchill Downs in the 1st quarter worth approximately $235,000. Strategic Wealth Partners Ltd. grew its stake in Churchill Downs by 48.7% in the 1st quarter. Strategic Wealth Partners Ltd. now owns 8,969 shares of the company’s stock worth $1,110,000 after acquiring an additional 2,936 shares during the period. Finally, Community Trust & Investment Co. grew its stake in Churchill Downs by 19.5% in the 1st quarter. Community Trust & Investment Co. now owns 129,913 shares of the company’s stock worth $16,077,000 after acquiring an additional 21,200 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $141.87 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The company’s 50-day simple moving average is $139.05 and its 200-day simple moving average is $138.00. The stock has a market capitalization of $10.43 billion, a price-to-earnings ratio of 25.84, a PEG ratio of 3.84 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business had revenue of $628.50 million for the quarter, compared to analysts’ expectations of $627.90 million. During the same quarter last year, the company posted $0.87 earnings per share. The company’s quarterly revenue was up 9.8% compared to the same quarter last year. Equities analysts anticipate that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend is Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 6.92%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on CHDN shares. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Macquarie upped their price objective on Churchill Downs from $154.00 to $162.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Truist Financial restated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Finally, Mizuho dropped their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

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.