Barlow Wealth Partners Inc. Acquires 3,076 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Barlow Wealth Partners Inc. grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 125,768 shares of the company’s stock after purchasing an additional 3,076 shares during the period. Churchill Downs makes up about 2.0% of Barlow Wealth Partners Inc.’s portfolio, making the stock its 22nd biggest position. Barlow Wealth Partners Inc.’s holdings in Churchill Downs were worth $15,959,000 at the end of the most recent quarter.

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

Churchill Downs Trading Up 0.3 %

CHDN opened at $126.39 on Wednesday. The company has a fifty day moving average price of $134.89 and a two-hundred day moving average price of $137.35. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. The company has a market cap of $9.29 billion, a P/E ratio of 23.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.96. 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 issued its earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.01. The business 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%. The firm’s revenue was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.87 EPS. Analysts predict that Churchill Downs Incorporated will post 5.84 EPS for the current fiscal year.

Churchill Downs Increases Dividend

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Truist Financial reaffirmed a “buy” rating and issued a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho cut their target price 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. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company lifted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $160.88.

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.