Community Trust & Investment Co. Purchases 2,936 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Community Trust & Investment Co. raised its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 132,565 shares of the company’s stock after buying an additional 2,936 shares during the period. Churchill Downs accounts for 1.1% of Community Trust & Investment Co.’s investment portfolio, making the stock its 29th biggest holding. Community Trust & Investment Co.’s holdings in Churchill Downs were worth $17,703,000 at the end of the most recent quarter.

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

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $128.95 on Wednesday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock has a market cap of $9.48 billion, a PE ratio of 23.49, a price-to-earnings-growth ratio of 3.84 and a beta of 0.96. The stock has a fifty day moving average of $136.90 and a 200-day moving average of $137.90.

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

Churchill Downs Increases Dividend

The company also recently announced 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 represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.29%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a report on Tuesday, October 22nd. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Truist Financial restated a “buy” rating and issued a $165.00 target price (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Wells Fargo & Company increased their price target on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, December 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average 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.