New York State Common Retirement Fund Has $4.95 Million Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

New York State Common Retirement Fund lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.3% during the fourth quarter, HoldingsChannel reports. The firm owned 37,032 shares of the company’s stock after selling 2,500 shares during the quarter. New York State Common Retirement Fund’s holdings in Churchill Downs were worth $4,945,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Venturi Wealth Management LLC boosted its stake in Churchill Downs by 145.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,884 shares of the company’s stock valued at $252,000 after buying an additional 1,117 shares in the last quarter. Truist Financial Corp lifted its holdings in shares of Churchill Downs by 22.1% in the fourth quarter. Truist Financial Corp now owns 29,637 shares of the company’s stock worth $3,958,000 after acquiring an additional 5,372 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Churchill Downs by 5.6% in the 4th quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock valued at $301,000 after purchasing an additional 120 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Churchill Downs by 498.0% during the 4th quarter. Allworth Financial LP now owns 7,218 shares of the company’s stock valued at $905,000 after purchasing an additional 6,011 shares during the last quarter. Finally, Principal Securities Inc. increased its position in Churchill Downs by 10.4% during the 4th quarter. Principal Securities Inc. now owns 2,602 shares of the company’s stock worth $347,000 after purchasing an additional 246 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research report on Friday, February 21st. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a report on Thursday, January 16th. Stifel Nicolaus lowered their target price on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a report on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Mizuho lowered 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 equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $159.38.

Churchill Downs Price Performance

Shares of CHDN opened at $117.27 on Friday. The business has a 50-day moving average of $125.58 and a 200-day moving average of $134.08. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 20.65, a price-to-earnings-growth ratio of 2.95 and a beta of 0.95. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The firm had revenue of $624.20 million for the quarter, compared to analyst estimates of $620.21 million. As a group, equities research analysts anticipate that Churchill Downs Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Stockholders of record on Friday, December 6th were given a $0.409 dividend. The ex-dividend date was Friday, December 6th. This is a positive change from Churchill Downs’s previous annual dividend of $0.38. This represents a dividend yield of 0.29%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

About Churchill Downs

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.