Churchill Downs Incorporated (NASDAQ:CHDN) Shares Sold by Money Concepts Capital Corp

Money Concepts Capital Corp cut its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,644 shares of the company’s stock after selling 250 shares during the period. Money Concepts Capital Corp’s holdings in Churchill Downs were worth $620,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. State Street Corp increased its holdings in shares of Churchill Downs by 5.8% in the third quarter. State Street Corp now owns 2,078,031 shares of the company’s stock valued at $280,971,000 after purchasing an additional 114,018 shares during the period. Geode Capital Management LLC increased its holdings in shares of Churchill Downs by 8.1% in the third quarter. Geode Capital Management LLC now owns 1,299,442 shares of the company’s stock valued at $175,742,000 after purchasing an additional 96,910 shares during the period. Jennison Associates LLC increased its holdings in shares of Churchill Downs by 5.6% in the fourth quarter. Jennison Associates LLC now owns 1,000,402 shares of the company’s stock valued at $133,594,000 after purchasing an additional 53,334 shares during the period. Westfield Capital Management Co. LP increased its holdings in shares of Churchill Downs by 100.0% in the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after purchasing an additional 381,754 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Churchill Downs by 6.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after purchasing an additional 37,679 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JMP Securities reissued a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Truist Financial restated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Wells Fargo & Company upped their target price on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.88.

Churchill Downs Stock Performance

Shares of CHDN stock opened at $123.27 on Friday. The company has a market capitalization of $9.06 billion, a P/E ratio of 22.45, a P/E/G ratio of 3.06 and a beta of 0.95. The business’s 50 day moving average is $131.02 and its two-hundred day moving average is $136.01. The company has a current ratio of 0.55, a quick ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21.

Churchill Downs Increases Dividend

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

Churchill Downs Company 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.