Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 110,638 shares of the company’s stock after selling 5,635 shares during the period. California Public Employees Retirement System owned approximately 0.15% of Churchill Downs worth $14,775,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CHDN. Louisiana State Employees Retirement System boosted its stake in Churchill Downs by 0.5% during the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock worth $2,724,000 after buying an additional 100 shares during the period. Blue Trust Inc. boosted its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after purchasing an additional 103 shares during the period. Arizona State Retirement System increased its holdings in Churchill Downs by 0.6% in the 4th quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock valued at $2,559,000 after purchasing an additional 116 shares during the last quarter. CIBC Asset Management Inc lifted its stake in Churchill Downs by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock worth $301,000 after purchasing an additional 120 shares in the last quarter. Finally, Cetera Trust Company N.A boosted its position in shares of Churchill Downs by 7.7% during the fourth quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock worth $251,000 after buying an additional 135 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $102.66 on Friday. Churchill Downs Incorporated has a 12 month low of $101.62 and a 12 month high of $150.21. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The firm has a market capitalization of $7.54 billion, a PE ratio of 18.07, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The business’s fifty day moving average price is $116.11 and its 200 day moving average price is $129.27.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). The business 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 43.67% and a net margin of 15.61%. On average, sell-side analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board of directors believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.23%. Churchill Downs’s payout ratio is 7.04%.

Analysts Set New Price Targets

CHDN has been the topic of several research reports. JMP Securities reissued a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company dropped their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a report on Friday, February 21st. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Finally, Mizuho dropped their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

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.