Churchill Downs, Incorporated $CHDN Stock: Vestor Capital LLC Grows Holdings

Vestor Capital LLC increased its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 491.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,286 shares of the company’s stock after buying an additional 10,207 shares during the quarter. Vestor Capital LLC’s holdings in Churchill Downs were worth $930,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Churchill Downs in the second quarter valued at approximately $555,948,000. William Blair Investment Management LLC purchased a new position in Churchill Downs during the 2nd quarter worth $92,340,000. Bank of America Corp DE acquired a new stake in shares of Churchill Downs in the 2nd quarter worth $69,099,000. Jupiter Topco LLC acquired a new stake in shares of Churchill Downs in the 2nd quarter worth $67,787,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Churchill Downs in the second quarter valued at about $39,781,000. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

CHDN has been the subject of several analyst reports. Wolfe Research began coverage on shares of Churchill Downs in a report on Wednesday, September 2nd. They set an “outperform” rating and a $119.00 price target for the company. Susquehanna decreased their price target on Churchill Downs from $124.00 to $115.00 and set a “positive” rating on the stock in a research note on Wednesday, October 21st. Mizuho upped their price objective on Churchill Downs from $125.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, October 30th. Citigroup reiterated a “market outperform” rating on shares of Churchill Downs in a research report on Tuesday, October 13th. Finally, Barclays raised their target price on Churchill Downs from $132.00 to $133.00 and gave the company an “overweight” rating in a report on Friday, October 30th. Eleven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $126.70.

Churchill Downs Price Performance

Churchill Downs stock opened at $98.77 on Tuesday. The firm has a market capitalization of $6.77 billion, a PE ratio of 15.34, a P/E/G ratio of 1.01 and a beta of 0.77. Churchill Downs, Incorporated has a 52 week low of $73.08 and a 52 week high of $118.35. The firm’s 50-day simple moving average is $83.96 and its 200 day simple moving average is $88.05. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 2.95.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.10. The firm had revenue of $696.00 million during the quarter, compared to the consensus estimate of $695.16 million. Churchill Downs had a net margin of 15.15% and a return on equity of 39.90%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the firm posted $1.09 EPS. On average, equities research analysts predict that Churchill Downs, Incorporated will post 6.88 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, January 5th. Investors of record on Friday, December 4th will be given a dividend of $0.4690 per share. The ex-dividend date is Friday, December 4th. This represents a dividend yield of 57.0%. This is an increase from Churchill Downs’s previous annual dividend of $0.4380. Churchill Downs’s payout ratio is presently 6.83%.

Churchill Downs Profile

Churchill Downs Incorporated is a gaming and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, home of the Kentucky Derby. The racetrack opened in 1875, the same year the inaugural Kentucky Derby was held.

The company operates horse-racing venues and related wagering businesses, as well as casinos and other gaming properties in several U.S. states. Its offerings include live and simulcast racing, casino gaming, and historical horse-racing machines.

Churchill Downs also operates TwinSpires, its online horse-racing wagering platform.