Natixis Advisors LLC Boosts Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Natixis Advisors LLC grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 123,650 shares of the company’s stock after acquiring an additional 2,763 shares during the quarter. Natixis Advisors LLC owned 0.17% of Churchill Downs worth $16,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of CHDN. Swiss National Bank boosted its holdings in shares of Churchill Downs by 0.5% in the 4th quarter. Swiss National Bank now owns 129,900 shares of the company’s stock worth $17,347,000 after buying an additional 700 shares during the last quarter. Independent Advisor Alliance boosted its holdings in shares of Churchill Downs by 8.0% in the 4th quarter. Independent Advisor Alliance now owns 5,682 shares of the company’s stock worth $759,000 after buying an additional 421 shares during the last quarter. Johnson Investment Counsel Inc. boosted its holdings in shares of Churchill Downs by 12.2% in the 4th quarter. Johnson Investment Counsel Inc. now owns 3,108 shares of the company’s stock worth $415,000 after buying an additional 338 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Churchill Downs by 44.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,131 shares of the company’s stock worth $2,288,000 after buying an additional 5,265 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of Churchill Downs by 77.5% in the 4th quarter. AlphaQuest LLC now owns 10,916 shares of the company’s stock worth $1,458,000 after buying an additional 4,766 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Trading Down 1.1 %

Shares of CHDN opened at $110.39 on Wednesday. The business’s 50-day moving average price is $120.14 and its 200-day moving average price is $131.68. Churchill Downs Incorporated has a twelve month low of $105.18 and a twelve month high of $150.21. The stock has a market cap of $8.12 billion, a PE ratio of 19.43, a P/E/G ratio of 2.95 and a beta of 0.93. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. On average, equities analysts forecast that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

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

Analysts Set New Price Targets

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company cut their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday. Stifel Nicolaus lowered their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday, February 21st. Finally, Mizuho lowered their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price 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.