Teacher Retirement System of Texas Purchases 836 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Teacher Retirement System of Texas raised its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 10.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,196 shares of the company’s stock after purchasing an additional 836 shares during the quarter. Teacher Retirement System of Texas’ holdings in Churchill Downs were worth $1,228,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of CHDN. Xponance Inc. increased its position in shares of Churchill Downs by 3.0% during the fourth quarter. Xponance Inc. now owns 14,345 shares of the company’s stock valued at $1,916,000 after acquiring an additional 412 shares in the last quarter. Boston Partners boosted its stake in Churchill Downs by 25.6% during the 4th quarter. Boston Partners now owns 1,794,630 shares of the company’s stock valued at $239,619,000 after purchasing an additional 366,283 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Churchill Downs by 6.5% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 11,509 shares of the company’s stock worth $1,537,000 after purchasing an additional 701 shares in the last quarter. Natixis Advisors LLC increased its holdings in shares of Churchill Downs by 2.3% in the 4th quarter. Natixis Advisors LLC now owns 123,650 shares of the company’s stock worth $16,513,000 after purchasing an additional 2,763 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of Churchill Downs by 0.5% in the fourth quarter. Swiss National Bank now owns 129,900 shares of the company’s stock worth $17,347,000 after purchasing an additional 700 shares during the last quarter. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $111.23 on Friday. Churchill Downs Incorporated has a 12-month low of $105.18 and a 12-month high of $150.21. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 2.95 and a beta of 0.93. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47. The firm has a 50 day moving average of $117.77 and a 200 day moving average of $130.35.

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

Churchill Downs declared that its board has approved a stock repurchase program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in outstanding shares. This repurchase authorization authorizes the company to buy up to 6.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its shares are undervalued.

Churchill Downs Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.22%. Churchill Downs’s dividend payout ratio is presently 7.04%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Stifel Nicolaus dropped their price objective on Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. JMP Securities reaffirmed a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. StockNews.com raised shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. Mizuho dropped their target price on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a report on Wednesday, February 19th. Finally, Wells Fargo & Company cut their target price 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, February 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Company 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.