Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Amundi

Amundi lowered its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 5.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 1,916 shares of the company’s stock after selling 111 shares during the period. Amundi’s holdings in Churchill Downs were worth $247,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Larson Financial Group LLC boosted its position in shares of Churchill Downs by 119,900.0% during the 4th quarter. Larson Financial Group LLC now owns 1,200 shares of the company’s stock worth $160,000 after purchasing an additional 1,199 shares during the period. Banco Santander S.A. purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $837,000. Machina Capital S.A.S. purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $202,000. Edgestream Partners L.P. boosted its position in shares of Churchill Downs by 58.3% during the 4th quarter. Edgestream Partners L.P. now owns 10,973 shares of the company’s stock worth $1,465,000 after purchasing an additional 4,040 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Churchill Downs during the 4th quarter worth approximately $16,015,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $112.10 on Friday. Churchill Downs Incorporated has a 12 month low of $105.18 and a 12 month 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 company has a market cap of $8.24 billion, a P/E ratio of 19.74, a PEG ratio of 2.95 and a beta of 0.93. The firm has a fifty day moving average price of $119.19 and a 200 day moving average price of $131.23.

Churchill Downs (NASDAQ:CHDN) 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 analyst estimates of $620.21 million. Sell-side analysts predict that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its board has authorized a share buyback plan on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to purchase up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its shares are undervalued.

Churchill Downs Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.21%. Churchill Downs’s dividend payout ratio is presently 7.04%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on CHDN shares. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. Stifel Nicolaus cut their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Mizuho decreased their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a report on Wednesday, February 19th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $159.38.

About Churchill Downs

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.