Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 427,666 shares of the company’s stock after selling 548 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Churchill Downs were worth $57,110,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans increased its holdings in shares of Churchill Downs by 6.7% in the 3rd quarter. Thrivent Financial for Lutherans now owns 17,248 shares of the company’s stock valued at $2,332,000 after acquiring an additional 1,086 shares during the period. Charles Schwab Investment Management Inc. raised its holdings in shares of Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after buying an additional 37,679 shares during the last quarter. Citigroup Inc. boosted its stake in shares of Churchill Downs by 25.3% during the third quarter. Citigroup Inc. now owns 29,891 shares of the company’s stock worth $4,042,000 after buying an additional 6,043 shares during the period. Centaurus Financial Inc. grew its holdings in shares of Churchill Downs by 28.2% during the third quarter. Centaurus Financial Inc. now owns 3,353 shares of the company’s stock worth $453,000 after buying an additional 738 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Churchill Downs in the 3rd quarter valued at about $279,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Up 0.4 %

Shares of NASDAQ CHDN opened at $113.43 on Thursday. The stock has a market capitalization of $8.34 billion, a price-to-earnings ratio of 19.97, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a 52 week low of $105.18 and a 52 week high of $150.21. The firm has a 50-day moving average price of $118.31 and a 200 day moving average price of $130.68. 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 posted its quarterly 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 company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. Equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs announced that its Board of Directors has approved 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 repurchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s management believes its shares are undervalued.

Churchill Downs Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have weighed in on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho dropped their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 19th. Stifel Nicolaus reduced their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Wells Fargo & Company lowered their target price 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus 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.