Independence Bank of Kentucky Has $2.18 Million Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Independence Bank of Kentucky boosted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDNFree Report) by 15.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,290 shares of the company’s stock after acquiring an additional 2,161 shares during the period. Independence Bank of Kentucky’s holdings in Churchill Downs were worth $2,175,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Winslow Asset Management Inc. lifted its position in Churchill Downs by 2.8% in the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after acquiring an additional 90 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after purchasing an additional 90 shares in the last quarter. Commerce Bank boosted its position in shares of Churchill Downs by 1.8% during the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock worth $686,000 after buying an additional 90 shares during the period. Blue Trust Inc. grew its holdings in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Finally, Cetera Trust Company N.A raised its position in Churchill Downs by 7.7% in the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock valued at $251,000 after buying an additional 135 shares during the last quarter. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have weighed in on CHDN shares. Mizuho reduced their price target on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company 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 report on Wednesday, November 6th. Wells Fargo & Company lifted their price target on shares of Churchill Downs from $161.00 to $168.00 and gave the company an “overweight” rating in a research note on Thursday, October 17th. JMP Securities restated a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. One investment 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 stock currently has an average rating of “Moderate Buy” and an average target price of $160.88.

Read Our Latest Report on Churchill Downs

Churchill Downs Price Performance

NASDAQ:CHDN opened at $123.58 on Friday. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The firm has a market capitalization of $9.08 billion, a price-to-earnings ratio of 22.51, a P/E/G ratio of 3.08 and a beta of 0.96. The stock’s 50 day moving average price is $132.44 and its two-hundred day moving average price is $136.54. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were paid a $0.409 dividend. This represents a yield of 0.29%. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is 7.47%.

Churchill Downs Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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