Community Trust & Investment Co. Has $17.70 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Community Trust & Investment Co. increased its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 132,565 shares of the company’s stock after acquiring an additional 2,936 shares during the quarter. Churchill Downs comprises 1.1% of Community Trust & Investment Co.’s holdings, making the stock its 29th largest holding. Community Trust & Investment Co. owned about 0.18% of Churchill Downs worth $17,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in CHDN. Eagle Bay Advisors LLC bought a new stake in Churchill Downs during the fourth quarter valued at $55,000. Harbor Capital Advisors Inc. lifted its stake in shares of Churchill Downs by 3.1% in the 4th quarter. Harbor Capital Advisors Inc. now owns 46,587 shares of the company’s stock valued at $6,221,000 after purchasing an additional 1,385 shares during the period. Fortitude Family Office LLC lifted its stake in shares of 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 period. GAMMA Investing LLC boosted its position in shares of Churchill Downs by 19.6% during the 4th quarter. GAMMA Investing LLC now owns 1,045 shares of the company’s stock valued at $140,000 after purchasing an additional 171 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Churchill Downs by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Up 0.6 %

Churchill Downs stock opened at $128.95 on Wednesday. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 23.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The firm’s fifty day moving average price is $136.90 and its two-hundred day moving average price is $137.90. Churchill Downs Incorporated has a 1-year low of $111.10 and a 1-year high of $150.21. 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 released its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share (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 the consensus estimate of $627.90 million. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.87 EPS. On average, equities research analysts predict that Churchill Downs Incorporated will post 5.86 earnings per share for the current fiscal 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. The ex-dividend date was Friday, December 6th. This represents a yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Truist Financial reissued a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. JMP Securities reiterated a “market outperform” rating and set a $166.00 target price on shares of Churchill Downs in a research report on Thursday, December 19th. Wells Fargo & Company raised 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. Mizuho decreased their price target on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $160.88.

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.