Artemis Investment Management LLP Has $47.48 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Artemis Investment Management LLP increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 355,567 shares of the company’s stock after acquiring an additional 16,373 shares during the quarter. Artemis Investment Management LLP owned 0.48% of Churchill Downs worth $47,482,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC boosted its stake in shares of Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the period. Kimelman & Baird LLC purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $42,000. Eagle Bay Advisors LLC bought a new stake in Churchill Downs during the 4th quarter valued at approximately $55,000. Finally, UMB Bank n.a. grew its position in shares of Churchill Downs by 82.8% in the 3rd quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after buying an additional 255 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Wells Fargo & Company lifted 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 reduced their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Finally, Truist Financial reissued a “buy” rating and set a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. One 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, Churchill Downs has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Up 1.1 %

CHDN opened at $126.00 on Friday. The stock has a market capitalization of $9.26 billion, a price-to-earnings ratio of 22.95, a PEG ratio of 2.97 and a beta of 0.96. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The company has a fifty day moving average of $135.50 and a two-hundred day moving average of $137.56.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The firm had revenue of $628.50 million for the quarter, compared to analyst estimates of $627.90 million. During the same period in the previous year, the company posted $0.87 earnings per share. The business’s revenue was up 9.8% on a year-over-year basis. On average, research analysts expect that Churchill Downs Incorporated will post 5.84 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a dividend of $0.409 per share. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 7.47%.

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.