Winebrenner Capital Management LLC Makes New Investment in Churchill Downs Incorporated (NASDAQ:CHDN)

Winebrenner Capital Management LLC purchased a new position in Churchill Downs Incorporated (NASDAQ:CHDN) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 4,533 shares of the company’s stock, valued at approximately $605,000.

Several other large investors also recently made changes to their positions in the stock. Aigen Investment Management LP bought a new stake in shares of Churchill Downs during the third quarter valued at approximately $516,000. Westfield Capital Management Co. LP increased its holdings in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after buying an additional 381,754 shares during the period. Atria Investments Inc increased its holdings in Churchill Downs by 3.9% in the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after buying an additional 224 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Churchill Downs by 6.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock valued at $80,477,000 after buying an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Churchill Downs by 7.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after acquiring an additional 12,226 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 1.8 %

Shares of CHDN opened at $116.92 on Friday. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The company has a market cap of $8.59 billion, a price-to-earnings ratio of 20.58, a PEG ratio of 2.96 and a beta of 0.95. The stock has a fifty day moving average price of $126.93 and a two-hundred day moving average price of $134.58. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a net margin of 15.61% and a return on equity of 44.76%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. Analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were paid a dividend of $0.409 per share. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s dividend payout ratio is 7.04%.

Analyst Ratings Changes

A number of analysts recently weighed in on CHDN shares. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a research note on Thursday, January 16th. Stifel Nicolaus lowered their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research note on Friday. Mizuho cut their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday. 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. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $159.38.

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.