Price T Rowe Associates Inc. MD Purchases 3,388 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Price T Rowe Associates Inc. MD increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 493,044 shares of the company’s stock after purchasing an additional 3,388 shares during the period. Price T Rowe Associates Inc. MD owned about 0.67% of Churchill Downs worth $65,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of CHDN. Norges Bank bought a new stake in shares of Churchill Downs during the fourth quarter valued at approximately $74,967,000. Boston Partners increased its position in shares of Churchill Downs by 25.6% during the fourth quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the period. FMR LLC boosted its stake in Churchill Downs by 6.4% in the 4th quarter. FMR LLC now owns 3,592,087 shares of the company’s stock valued at $479,687,000 after buying an additional 214,694 shares in the last quarter. Clearbridge Investments LLC acquired a new stake in Churchill Downs in the 4th quarter valued at $28,369,000. Finally, Raymond James Financial Inc. acquired a new stake in Churchill Downs in the 4th quarter valued at $16,015,000. 82.59% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on CHDN shares. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Thursday, April 24th. Truist Financial decreased their price target on Churchill Downs from $162.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, April 23rd. Macquarie decreased their price target on Churchill Downs from $172.00 to $154.00 and set an “outperform” rating on the stock in a research note on Thursday, April 24th. Susquehanna decreased their price target on Churchill Downs from $150.00 to $136.00 and set a “positive” rating on the stock in a research note on Tuesday, April 22nd. Finally, Wells Fargo & Company decreased their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $144.80.

Churchill Downs Trading Up 1.2 %

CHDN stock opened at $89.37 on Tuesday. The company has a market cap of $6.57 billion, a P/E ratio of 15.73, a PEG ratio of 2.95 and a beta of 0.86. Churchill Downs Incorporated has a twelve month low of $85.58 and a twelve month high of $150.21. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The business has a fifty day moving average of $107.76 and a 200-day moving average of $124.51.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 23rd. The company reported $1.07 earnings per share for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.01). The firm had revenue of $642.60 million for the quarter, compared to the consensus estimate of $649.68 million. Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 0.27%. Churchill Downs’s payout ratio is 7.12%.

Churchill Downs declared that its Board of Directors has initiated a share buyback plan on Wednesday, March 12th that permits the company to buyback $500.00 million in shares. This buyback authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

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.