Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Retirement Systems of Alabama

Retirement Systems of Alabama grew its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 0.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 180,751 shares of the company’s stock after buying an additional 182 shares during the period. Retirement Systems of Alabama’s holdings in Churchill Downs were worth $24,137,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of CHDN. Westfield Capital Management Co. LP grew its position 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 in the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Churchill Downs during the 3rd quarter valued at $18,368,000. State Street Corp increased its stake in Churchill Downs by 5.8% in the 3rd quarter. State Street Corp now owns 2,078,031 shares of the company’s stock worth $280,971,000 after purchasing an additional 114,018 shares in the last quarter. WCM Investment Management LLC acquired a new stake in shares of Churchill Downs during the third quarter valued at approximately $15,231,000. Finally, Point72 Asset Management L.P. boosted its stake in Churchill Downs by 66.8% in the 2nd quarter. Point72 Asset Management L.P. now owns 250,319 shares of the company’s stock worth $34,944,000 after purchasing an additional 100,230 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Price Performance

NASDAQ:CHDN opened at $120.94 on Thursday. Churchill Downs Incorporated has a 52-week low of $111.10 and a 52-week high of $150.21. The company has a market cap of $8.89 billion, a P/E ratio of 22.03, a P/E/G ratio of 3.06 and a beta of 0.95. 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 stock’s 50-day simple moving average is $131.36 and its 200 day simple moving average is $136.10.

Churchill Downs Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio is currently 7.47%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Wells Fargo & Company lifted their price objective on Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. Mizuho lowered their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research note on Tuesday, October 22nd. Finally, Truist Financial reissued a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and a consensus target price of $160.88.

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.