Harbor Capital Advisors Inc. Purchases 1,385 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Harbor Capital Advisors Inc. grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 46,587 shares of the company’s stock after acquiring an additional 1,385 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Churchill Downs were worth $6,221,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of CHDN. State Street Corp lifted its position in shares of Churchill Downs by 5.8% during the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after acquiring an additional 114,018 shares during the period. Geode Capital Management LLC lifted its position in Churchill Downs by 8.1% during the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock worth $175,742,000 after purchasing an additional 96,910 shares during the period. William Blair Investment Management LLC bought a new position in Churchill Downs in the 2nd quarter valued at about $125,418,000. Westfield Capital Management Co. LP raised its position in shares of Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Churchill Downs by 6.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after acquiring an additional 37,679 shares during the period. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Churchill Downs Stock Down 1.7 %

Shares of NASDAQ CHDN opened at $126.86 on Friday. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The firm has a market cap of $9.32 billion, a PE ratio of 23.11, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The company has a 50 day simple moving average of $137.32 and a 200 day simple moving average of $138.10.

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

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is presently 7.29%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on CHDN shares. Wells Fargo & Company lifted their price objective 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. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, December 19th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Mizuho reduced their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs 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.