Artemis Investment Management LLP Raises Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Artemis Investment Management LLP raised its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.8% in the 4th quarter, Holdings Channel reports. The fund owned 355,567 shares of the company’s stock after acquiring an additional 16,373 shares during the quarter. Artemis Investment Management LLP’s holdings in Churchill Downs were worth $47,482,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of CHDN. Wilmington Savings Fund Society FSB acquired a new stake in Churchill Downs in the third quarter valued at $27,000. Fortitude Family Office LLC grew its holdings in Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Churchill Downs during the second quarter worth about $42,000. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs in the 4th quarter valued at approximately $55,000. Finally, UMB Bank n.a. boosted its stake in shares of Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after acquiring an additional 255 shares during the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

NASDAQ CHDN opened at $126.00 on Friday. Churchill Downs Incorporated has a 12-month low of $111.10 and a 12-month high of $150.21. The company has a 50 day moving average price of $135.50 and a two-hundred day moving average price of $137.56. The stock has a market capitalization of $9.26 billion, a PE ratio of 22.95, a price-to-earnings-growth ratio of 2.97 and a beta of 0.96. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 23rd. The company reported $0.97 EPS for the quarter, topping the consensus estimate of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million for the quarter, compared to the consensus estimate of $627.90 million. During the same period in the previous year, the business posted $0.87 EPS. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Churchill Downs Incorporated will post 5.84 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a dividend of $0.409 per share. The ex-dividend date was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is presently 7.47%.

Wall Street Analyst Weigh In

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

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.