Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. decreased its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 5.6% during the 4th quarter, Holdings Channel reports. The institutional investor owned 247,917 shares of the company’s stock after selling 14,808 shares during the period. Principal Financial Group Inc.’s holdings in Churchill Downs were worth $33,107,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new position in Churchill Downs during the 3rd quarter valued at about $516,000. Westfield Capital Management Co. LP boosted its position in shares of Churchill Downs by 100.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after purchasing an additional 381,754 shares in the last quarter. Atria Investments Inc boosted its position in shares of Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after purchasing an additional 224 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position 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 valued at $80,477,000 after purchasing an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock valued at $24,824,000 after purchasing an additional 12,226 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of CHDN opened at $116.92 on Friday. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $150.21. The company has a 50-day moving average of $126.93 and a two-hundred day moving average of $134.58. The stock has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.96 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). The company had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. On average, equities research analysts expect that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued 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 was Friday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is currently 7.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on CHDN shares. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Truist Financial restated a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Mizuho reduced their price objective on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. 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 reduced their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.