Police & Firemen s Retirement System of New Jersey Sells 692 Shares of Churchill Downs, Incorporated $CHDN

Police & Firemen s Retirement System of New Jersey decreased its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,766 shares of the company’s stock after selling 692 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Churchill Downs were worth $2,501,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its holdings in Churchill Downs by 161.1% in the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock valued at $33,000 after purchasing an additional 203 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Churchill Downs by 1.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 615,463 shares of the company’s stock worth $68,359,000 after buying an additional 10,108 shares during the period. Bayforest Capital Ltd bought a new stake in shares of Churchill Downs in the 2nd quarter valued at about $593,000. LPL Financial LLC increased its stake in shares of Churchill Downs by 51.5% in the 1st quarter. LPL Financial LLC now owns 61,158 shares of the company’s stock valued at $6,793,000 after acquiring an additional 20,802 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its position in shares of Churchill Downs by 192.0% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 11,879 shares of the company’s stock valued at $1,251,000 after acquiring an additional 7,811 shares during the period. 82.59% of the stock is owned by institutional investors.

Churchill Downs Trading Up 4.7%

CHDN opened at $104.56 on Wednesday. The stock has a market capitalization of $7.29 billion, a P/E ratio of 19.01, a P/E/G ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a 12 month low of $85.58 and a 12 month high of $144.23. The firm’s fifty day simple moving average is $96.55 and its 200 day simple moving average is $99.58. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.97 EPS. As a group, research analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be paid a dividend of $0.438 per share. The ex-dividend date of this dividend is Friday, December 5th. This represents a dividend yield of 46.0%. This is an increase from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio (DPR) is 7.82%.

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of analyst reports. Susquehanna restated a “positive” rating and set a $124.00 price objective (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Macquarie reaffirmed an “outperform” rating and set a $155.00 price objective on shares of Churchill Downs in a research note on Friday, October 24th. Wells Fargo & Company assumed coverage on Churchill Downs in a report on Tuesday. They set an “overweight” rating and a $115.00 target price on the stock. Finally, Mizuho increased their price target on Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $133.30.

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.