Copeland Capital Management LLC Boosts Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Copeland Capital Management LLC grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 268,725 shares of the company’s stock after buying an additional 4,614 shares during the period. Copeland Capital Management LLC’s holdings in Churchill Downs were worth $36,334,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Goldman Sachs Group Inc. boosted its stake in Churchill Downs by 6.6% during the fourth quarter. Goldman Sachs Group Inc. now owns 151,377 shares of the company’s stock worth $20,425,000 after buying an additional 9,354 shares during the period. Park Avenue Securities LLC increased its holdings in Churchill Downs by 3.7% in the 1st quarter. Park Avenue Securities LLC now owns 8,394 shares of the company’s stock valued at $1,039,000 after purchasing an additional 301 shares during the last quarter. Independence Bank of Kentucky raised its position in Churchill Downs by 80.5% in the first quarter. Independence Bank of Kentucky now owns 12,254 shares of the company’s stock valued at $1,516,000 after purchasing an additional 5,464 shares during the period. Guidance Capital Inc. lifted its stake in Churchill Downs by 2.5% during the first quarter. Guidance Capital Inc. now owns 11,768 shares of the company’s stock worth $1,438,000 after purchasing an additional 284 shares in the last quarter. Finally, Mirador Capital Partners LP purchased a new position in shares of Churchill Downs during the first quarter worth $272,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $135.49 on Tuesday. The company has a market cap of $9.96 billion, a P/E ratio of 30.18, a PEG ratio of 2.06 and a beta of 0.97. The firm has a fifty day moving average price of $137.79 and a 200 day moving average price of $135.49. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.65. Churchill Downs Incorporated has a 12 month low of $106.45 and a 12 month high of $146.64.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, July 24th. The company reported $2.89 EPS for the quarter, beating analysts’ consensus estimates of $2.71 by $0.18. The business had revenue of $890.70 million for the quarter, compared to the consensus estimate of $858.59 million. Churchill Downs had a return on equity of 47.53% and a net margin of 15.61%. The business’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.24 EPS. Sell-side analysts predict that Churchill Downs Incorporated will post 6.13 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Mizuho increased their target price on Churchill Downs from $143.00 to $157.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Bank of America raised shares of Churchill Downs from a “neutral” rating to a “buy” rating and increased their price target for the stock from $145.00 to $155.00 in a research report on Monday, August 12th. Wells Fargo & Company upped their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Truist Financial reissued a “buy” rating and issued a $166.00 price target (up previously from $165.00) on shares of Churchill Downs in a research report on Friday, July 26th. Finally, Jefferies Financial Group upped their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, July 11th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $161.75.

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.