CIBC Asset Management Inc Grows Position in Churchill Downs Incorporated (NASDAQ:CHDN)

CIBC Asset Management Inc boosted its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,252 shares of the company’s stock after buying an additional 120 shares during the quarter. CIBC Asset Management Inc’s holdings in Churchill Downs were worth $301,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of CHDN. Winslow Asset Management Inc. raised its holdings in shares of Churchill Downs by 2.8% during the third quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after purchasing an additional 90 shares during the last quarter. Venturi Wealth Management LLC grew its position in Churchill Downs by 13.3% in the 3rd quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock worth $104,000 after purchasing an additional 90 shares during the period. Commerce Bank raised its stake in Churchill Downs by 1.8% during the 3rd quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after buying an additional 90 shares during the last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Churchill Downs by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after buying an additional 100 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after buying an additional 103 shares during the period. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on CHDN. Mizuho reduced their price objective on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. Wells Fargo & Company reduced their price target on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Stifel Nicolaus reduced 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Trading Down 1.8 %

Shares of Churchill Downs stock opened at $114.81 on Tuesday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. The company has a fifty day moving average of $126.53 and a 200 day moving average of $134.47. The company has a market capitalization of $8.44 billion, a P/E ratio of 20.21, a P/E/G ratio of 2.95 and a beta of 0.95. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly 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). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to analysts’ expectations of $620.21 million. On average, sell-side analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were given a dividend of $0.409 per share. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. The ex-dividend date of this dividend was Friday, December 6th. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio is currently 7.22%.

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.