Coldstream Capital Management Inc. Purchases 346 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Coldstream Capital Management Inc. lifted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 11.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,410 shares of the company’s stock after acquiring an additional 346 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Churchill Downs were worth $462,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. William Blair Investment Management LLC acquired a new position in shares of Churchill Downs during the second quarter worth approximately $125,418,000. Westfield Capital Management Co. LP lifted its holdings in Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares in the last quarter. Kovitz Investment Group Partners LLC bought a new position in Churchill Downs in the 3rd quarter valued at $18,368,000. State Street Corp increased its stake in shares of Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after buying an additional 114,018 shares during the period. Finally, WCM Investment Management LLC bought a new stake in shares of Churchill Downs during the third quarter worth $15,231,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

CHDN opened at $136.05 on Friday. The stock has a market cap of $10.00 billion, a P/E ratio of 24.78, a P/E/G ratio of 3.84 and a beta of 0.95. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. The company has a fifty day simple moving average of $140.03 and a 200 day simple moving average of $138.51.

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

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

A number of brokerages recently commented on CHDN. Truist Financial reiterated a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Monday, October 14th. Mizuho lowered their target price on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. Wells Fargo & Company upped their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research report on Thursday, October 17th. Finally, StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

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.