Treasurer of the State of North Carolina Grows Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Treasurer of the State of North Carolina lifted its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,633 shares of the company’s stock after buying an additional 190 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Churchill Downs were worth $4,091,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Blue Trust Inc. grew its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Churchill Downs in the third quarter valued at approximately $27,000. Fortitude Family Office LLC grew its holdings in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the 4th quarter worth approximately $55,000. Finally, R Squared Ltd bought a new stake in shares of Churchill Downs in the 4th quarter worth approximately $55,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 1.0 %

Shares of CHDN opened at $102.63 on Wednesday. The business’s 50-day moving average price is $112.12 and its 200 day moving average price is $127.11. 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 stock has a market capitalization of $7.54 billion, a P/E ratio of 18.07, a P/E/G ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a 1-year low of $96.67 and a 1-year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs declared that its Board of Directors has approved a share repurchase plan on Wednesday, March 12th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Churchill Downs Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.23%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.04%.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of recent research reports. Barclays initiated coverage on Churchill Downs in a research note on Friday, April 11th. They set an “overweight” rating and a $125.00 price objective for the company. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Wells Fargo & Company decreased their target price 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. Mizuho cut their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Stifel Nicolaus decreased their price objective on Churchill Downs from $161.00 to $142.00 and set a “buy” rating for the company in a report on Thursday, April 10th. One equities research analyst has rated the stock with a sell rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $153.44.

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.