Natixis Advisors LLC Raises Stake in Churchill Downs Incorporated (NASDAQ:CHDN)

Natixis Advisors LLC boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 2.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,650 shares of the company’s stock after buying an additional 2,763 shares during the quarter. Natixis Advisors LLC’s holdings in Churchill Downs were worth $16,513,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Blue Trust Inc. boosted its stake in Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Churchill Downs in the third quarter worth approximately $27,000. Fortitude Family Office LLC boosted its stake in Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after buying an additional 246 shares in the last quarter. Eagle Bay Advisors LLC purchased a new stake in Churchill Downs in the fourth quarter worth approximately $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter worth approximately $55,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $110.39 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.57 and a debt-to-equity ratio of 4.47. The company has a market cap of $8.12 billion, a PE ratio of 19.43, a P/E/G ratio of 2.95 and a beta of 0.93. The business has a 50 day moving average of $120.14 and a 200 day moving average of $131.68. Churchill Downs Incorporated has a 52 week low of $105.18 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 EPS for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). The business had revenue of $624.20 million for the quarter, compared to the consensus estimate of $620.21 million. Churchill Downs had a net margin of 15.61% and a return on equity of 43.67%. As a group, equities research analysts forecast that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs declared that its board has initiated a share repurchase program on Wednesday, March 12th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Wells Fargo & Company dropped their price objective on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research note on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Stifel Nicolaus dropped their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research note on Friday, February 21st. Finally, Mizuho dropped their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

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.