Captrust Financial Advisors Sells 127 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Captrust Financial Advisors reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 3,578 shares of the company’s stock after selling 127 shares during the quarter. Captrust Financial Advisors’ holdings in Churchill Downs were worth $484,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Winslow Asset Management Inc. grew its stake in shares of Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the period. Venturi Wealth Management LLC boosted its holdings in shares of Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after acquiring an additional 90 shares in the last quarter. Commerce Bank boosted its holdings in shares of Churchill Downs by 1.8% in the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Churchill Downs by 13.8% in the 2nd quarter. First Horizon Advisors Inc. now owns 818 shares of the company’s stock worth $114,000 after acquiring an additional 99 shares in the last quarter. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Churchill Downs by 1.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 7,065 shares of the company’s stock worth $986,000 after acquiring an additional 105 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $137.46 on Friday. The firm has a fifty day moving average of $140.06 and a two-hundred day moving average of $138.43. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 25.04, a PEG ratio of 3.85 and a beta of 0.95. Churchill Downs Incorporated has a 52 week low of $111.10 and a 52 week high of $150.21. 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 (NASDAQ:CHDN) last issued its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.96 by $0.01. The company had revenue of $628.50 million during the quarter, compared to analysts’ expectations of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities research analysts predict that Churchill Downs Incorporated will post 5.86 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Investors of record on Friday, December 6th will be given a $0.409 dividend. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is currently 7.29%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on CHDN. Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company boosted their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Finally, Truist Financial reaffirmed a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target 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.