Churchill Downs Incorporated (NASDAQ:CHDN) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 97.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 662,856 shares of the company’s stock after purchasing an additional 326,742 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.89% of Churchill Downs worth $92,250,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vestor Capital LLC bought a new position in Churchill Downs during the first quarter valued at about $43,000. Harbor Capital Advisors Inc. bought a new position in Churchill Downs during the second quarter valued at about $27,000. Signaturefd LLC boosted its stake in Churchill Downs by 51.9% during the first quarter. Signaturefd LLC now owns 196 shares of the company’s stock valued at $50,000 after buying an additional 67 shares in the last quarter. Quent Capital LLC boosted its stake in Churchill Downs by 100.0% during the second quarter. Quent Capital LLC now owns 214 shares of the company’s stock valued at $30,000 after buying an additional 107 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its stake in Churchill Downs by 11,050.0% during the first quarter. Harvest Fund Management Co. Ltd now owns 223 shares of the company’s stock valued at $57,000 after buying an additional 221 shares in the last quarter. 72.88% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Trading Up 0.5 %

Shares of NASDAQ CHDN opened at $121.41 on Tuesday. Churchill Downs Incorporated has a one year low of $101.89 and a one year high of $150.45. The firm has a market capitalization of $9.06 billion, a PE ratio of 25.78 and a beta of 1.08. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 5.24. The business has a 50-day moving average price of $114.85 and a two-hundred day moving average price of $126.90.

Churchill Downs (NASDAQ:CHDN) last announced its quarterly earnings data on Wednesday, October 25th. The company reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.03. Churchill Downs had a return on equity of 49.33% and a net margin of 15.15%. The firm had revenue of $572.50 million during the quarter, compared to analyst estimates of $568.55 million. During the same period last year, the company posted $0.81 EPS. The business’s quarterly revenue was up 49.4% compared to the same quarter last year. As a group, analysts predict that Churchill Downs Incorporated will post 5.36 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The company also recently declared an annual dividend, which will be paid on Friday, January 5th. Stockholders of record on Friday, December 1st will be paid a dividend of $0.382 per share. The ex-dividend date of this dividend is Thursday, November 30th. This is an increase from Churchill Downs’s previous annual dividend of $0.36. This represents a dividend yield of 0.35%. Churchill Downs’s dividend payout ratio (DPR) is 8.07%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on CHDN shares. Capital One Financial started coverage on Churchill Downs in a research note on Thursday, October 12th. They set an “overweight” rating and a $144.00 target price for the company. Truist Financial decreased their price target on Churchill Downs from $148.00 to $140.00 and set a “buy” rating for the company in a research report on Friday, October 27th. StockNews.com lowered Churchill Downs from a “hold” rating to a “sell” rating in a research report on Tuesday. JMP Securities reiterated a “market outperform” rating and issued a $146.00 price target on shares of Churchill Downs in a research report on Tuesday, October 17th. Finally, Wells Fargo & Company decreased their price target on Churchill Downs from $150.00 to $139.00 and set an “overweight” rating for the company in a research report on Friday, July 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has a consensus rating of “Moderate Buy” and a consensus price target of $139.81.

Churchill Downs Company Profile

Churchill Downs Incorporated operates as a racing, online wagering, and gaming entertainment company in the United States. It operates through Live and Historical Racing, TwinSpires, and Gaming segments. The company operates pari-mutuel gaming entertainment venues; TwinSpires, an online wagering platform for horse racing, sports, and iGaming; retail sportsbooks; and casino gaming.