Swiss National Bank Increases Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Swiss National Bank lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 129,900 shares of the company’s stock after acquiring an additional 700 shares during the quarter. Swiss National Bank’s holdings in Churchill Downs were worth $17,347,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Commerce Bank increased its position in shares of Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after acquiring an additional 90 shares during the last quarter. Louisiana State Employees Retirement System increased its holdings in Churchill Downs by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after buying an additional 100 shares during the last quarter. Blue Trust Inc. increased its holdings in Churchill Downs by 127.2% in the fourth 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. Arizona State Retirement System increased its holdings in Churchill Downs by 0.6% in the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock valued at $2,559,000 after buying an additional 116 shares during the last quarter. Finally, CIBC Asset Management Inc increased its holdings in Churchill Downs by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock valued at $301,000 after buying an additional 120 shares during the last quarter. 82.59% of the stock is owned by hedge funds and other institutional investors.

Churchill Downs Stock Down 1.1 %

NASDAQ:CHDN opened at $110.39 on Wednesday. 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 50 day moving average of $120.14 and a 200-day moving average of $131.68. The firm has a market capitalization of $8.12 billion, a PE ratio of 19.43, 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.

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

Churchill Downs Announces Dividend

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

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

Analysts Set New Price Targets

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

Churchill Downs Company 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.