Principal Financial Group Inc. Purchases 6,916 Shares of Churchill Downs, Incorporated $CHDN

Principal Financial Group Inc. lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 148,969 shares of the company’s stock after purchasing an additional 6,916 shares during the period. Principal Financial Group Inc.’s holdings in Churchill Downs were worth $13,382,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC raised its holdings in Churchill Downs by 4.7% in the 3rd quarter. Quadrant Capital Group LLC now owns 2,619 shares of the company’s stock valued at $254,000 after buying an additional 118 shares during the last quarter. Nebula Research & Development LLC grew its holdings in Churchill Downs by 4.8% during the 2nd quarter. Nebula Research & Development LLC now owns 3,421 shares of the company’s stock worth $346,000 after acquiring an additional 158 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in Churchill Downs by 7.2% during the 4th quarter. CIBC Private Wealth Group LLC now owns 2,501 shares of the company’s stock worth $285,000 after acquiring an additional 169 shares during the last quarter. Coldstream Capital Management Inc. increased its position in Churchill Downs by 5.5% in the 3rd quarter. Coldstream Capital Management Inc. now owns 3,376 shares of the company’s stock valued at $327,000 after acquiring an additional 177 shares during the period. Finally, Public Employees Retirement System of Ohio increased its position in Churchill Downs by 0.9% in the 4th quarter. Public Employees Retirement System of Ohio now owns 20,450 shares of the company’s stock valued at $2,327,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $86.50 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The business has a 50-day moving average price of $86.77 and a two-hundred day moving average price of $91.28. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.35. The company has a market cap of $6.03 billion, a P/E ratio of 16.02, a PEG ratio of 0.54 and a beta of 0.67.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The firm had revenue of $663.00 million during the quarter, compared to analyst estimates of $659.32 million. During the same period last year, the company posted $1.07 EPS. The business’s quarterly revenue was up 3.1% on a year-over-year basis. As a group, analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on CHDN. Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Mizuho increased their price objective on Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research report on Thursday, July 2nd. Wells Fargo & Company cut their target price on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, July 14th. Finally, Citizens Jmp upped their price target on Churchill Downs from $146.00 to $149.00 and gave the company a “market outperform” rating in a research report on Friday, April 24th. Nine analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $138.50.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.