Smithfield Trust Co Grows Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Smithfield Trust Co lifted its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.8% during the third quarter, HoldingsChannel.com reports. The firm owned 81,636 shares of the company’s stock after purchasing an additional 3,000 shares during the quarter. Smithfield Trust Co’s holdings in Churchill Downs were worth $11,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. William Blair Investment Management LLC purchased a new position in Churchill Downs in the second quarter worth about $125,418,000. Assenagon Asset Management S.A. raised its holdings in Churchill Downs by 10,126.1% in the 2nd quarter. Assenagon Asset Management S.A. now owns 195,829 shares of the company’s stock worth $27,338,000 after acquiring an additional 193,914 shares during the last quarter. Sequoia Financial Advisors LLC purchased a new position in Churchill Downs in the 2nd quarter worth approximately $26,384,000. Capital International Investors boosted its stake in Churchill Downs by 7.5% during the 1st quarter. Capital International Investors now owns 2,560,653 shares of the company’s stock valued at $316,881,000 after purchasing an additional 177,900 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in Churchill Downs by 60.1% during the 2nd quarter. Artemis Investment Management LLP now owns 347,074 shares of the company’s stock valued at $48,452,000 after purchasing an additional 130,331 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analysts Forecast Growth

CHDN has been the topic of a number of research analyst reports. Truist Financial reaffirmed a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. 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 note on Thursday, October 17th. Mizuho decreased their price objective 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. JMP Securities restated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Monday, October 14th. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has a consensus rating of “Moderate Buy” and an average target price of $160.88.

Churchill Downs Stock Up 0.9 %

Shares of CHDN stock opened at $139.97 on Thursday. The company has a 50 day simple moving average of $138.98 and a two-hundred day simple moving average of $137.93. The stock has a market cap of $10.29 billion, a P/E ratio of 25.50, a P/E/G ratio of 3.84 and a beta of 0.96. Churchill Downs Incorporated has a 12 month low of $111.10 and a 12 month high of $150.21. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35.

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

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend is Friday, December 6th. Churchill Downs’s payout ratio is presently 6.92%.

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.