Churchill Downs Inc. (NASDAQ:CHDN) announced an annual dividend on Friday, October 28th. Stockholders of record on Friday, December 2nd will be given a dividend of 1.32 per share on Friday, January 6th. This represents a dividend yield of 0.97%. The ex-dividend date of this dividend is Wednesday, November 30th. This is an increase from Churchill Downs’s previous annual dividend of $1.15.

Shares of Churchill Downs (NASDAQ:CHDN) opened at 155.85 on Tuesday. The stock’s 50 day moving average price is $142.70 and its 200-day moving average price is $137.65. The company has a market cap of $2.56 billion, a PE ratio of 29.93 and a beta of 0.69. Churchill Downs has a 12-month low of $118.76 and a 12-month high of $157.15.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Thursday, October 27th. The company reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.43. The firm had revenue of $303.40 million for the quarter, compared to analyst estimates of $301.86 million. Churchill Downs had a return on equity of 13.60% and a net margin of 6.82%. The firm’s revenue was up 8.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities research analysts forecast that Churchill Downs will post $5.68 earnings per share for the current year.

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A number of research analysts have weighed in on the stock. Telsey Advisory Group boosted their target price on shares of Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Gabelli raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Imperial Capital restated an “outperform” rating and set a $165.00 price objective (up previously from $145.00) on shares of Churchill Downs in a report on Friday, October 14th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a report on Thursday, September 22nd. They set a “neutral” rating and a $160.00 price objective on the stock. Finally, Zacks Investment Research upgraded shares of Churchill Downs from a “hold” rating to a “strong-buy” rating and set a $167.00 price objective on the stock in a report on Wednesday, October 5th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $159.33.

In related news, Director Robert L. Evans sold 5,000 shares of the company’s stock in a transaction dated Wednesday, November 23rd. The shares were sold at an average price of $155.07, for a total value of $775,350.00. Following the sale, the director now owns 164,194 shares of the company’s stock, valued at $25,461,563.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 19.05% of the stock is currently owned by corporate insiders.

Hedge funds have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted its stake in Churchill Downs by 5.8% in the second quarter. BlackRock Advisors LLC now owns 6,164 shares of the company’s stock worth $779,000 after buying an additional 338 shares during the last quarter. BlackRock Investment Management LLC boosted its stake in Churchill Downs by 77.3% in the second quarter. BlackRock Investment Management LLC now owns 80,049 shares of the company’s stock worth $10,115,000 after buying an additional 34,911 shares during the last quarter. BlackRock Inc. boosted its stake in Churchill Downs by 438.2% in the second quarter. BlackRock Inc. now owns 4,844 shares of the company’s stock worth $613,000 after buying an additional 3,944 shares during the last quarter. BlackRock Fund Advisors boosted its stake in Churchill Downs by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock worth $80,715,000 after buying an additional 334,299 shares during the last quarter. Finally, BlackRock Group LTD boosted its stake in Churchill Downs by 17.7% in the second quarter. BlackRock Group LTD now owns 9,904 shares of the company’s stock worth $1,251,000 after buying an additional 1,492 shares during the last quarter. 69.98% of the stock is currently owned by institutional investors and hedge funds.

About Churchill Downs

Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company operates in six segments: Racing, Casinos, TwinSpires, Big Fish Games, Inc (Big Fish Games), Other Investments and Corporate. The racing segment includes its four trace tracks: Churchill Downs Racetrack, Arlington International Race Course, Fair Grounds Race Course and Calder Race Course.

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