Geode Capital Management LLC Has $138.01 Million Stock Position in Churchill Downs, Incorporated $CHDN

Geode Capital Management LLC reduced its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 1.9% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 1,366,238 shares of the company’s stock after selling 26,229 shares during the period. Geode Capital Management LLC owned about 1.95% of Churchill Downs worth $138,013,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its position in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after buying an additional 232 shares in the last quarter. Elequin Capital LP bought a new position in shares of Churchill Downs during the 1st quarter worth $29,000. Signaturefd LLC boosted its position in Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after purchasing an additional 203 shares during the period. Huntington National Bank boosted its holdings in Churchill Downs by 534.3% in the 2nd quarter. Huntington National Bank now owns 425 shares of the company’s stock worth $43,000 after buying an additional 358 shares during the period. Finally, Hantz Financial Services Inc. grew its position in shares of Churchill Downs by 132.2% in the second quarter. Hantz Financial Services Inc. now owns 469 shares of the company’s stock valued at $47,000 after purchasing an additional 267 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on CHDN shares. 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. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on Churchill Downs in a research note on Tuesday. They issued an “overweight” rating and a $115.00 target price for the company. JPMorgan Chase & Co. lowered their price target on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Finally, Susquehanna reiterated a “positive” rating and issued a $124.00 price objective (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Ten analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $133.30.

Churchill Downs Trading Down 1.8%

NASDAQ:CHDN opened at $102.72 on Thursday. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market capitalization of $7.16 billion, a P/E ratio of 18.68, a PEG ratio of 1.84 and a beta of 0.81. The company’s 50-day simple moving average is $96.67 and its 200 day simple moving average is $99.60. Churchill Downs, Incorporated has a one year low of $85.58 and a one year high of $144.23.

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

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Shareholders of record on Friday, December 5th will be issued a $0.438 dividend. This represents a dividend yield of 46.0%. The ex-dividend date of this dividend is Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio is 7.82%.

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.