New York State Teachers Retirement System Cuts Stake in Churchill Downs, Incorporated $CHDN

New York State Teachers Retirement System lessened its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 8.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,844 shares of the company’s stock after selling 4,756 shares during the period. New York State Teachers Retirement System’s holdings in Churchill Downs were worth $5,320,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Geneos Wealth Management Inc. grew its position in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock valued at $28,000 after buying an additional 232 shares during the period. MAI Capital Management grew its holdings in shares of Churchill Downs by 306.9% during the second quarter. MAI Capital Management now owns 293 shares of the company’s stock worth $30,000 after buying an additional 221 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in Churchill Downs by 1,670.6% in the 3rd quarter. Farther Finance Advisors LLC now owns 301 shares of the company’s stock valued at $29,000 after acquiring an additional 284 shares during the last quarter. Signaturefd LLC boosted its stake in Churchill Downs by 161.1% during the second quarter. Signaturefd LLC now owns 329 shares of the company’s stock worth $33,000 after buying an additional 203 shares during the last quarter. Finally, Huntington National Bank grew its holdings in shares of Churchill Downs by 534.3% in the second quarter. Huntington National Bank now owns 425 shares of the company’s stock valued at $43,000 after purchasing an additional 358 shares during the period. 82.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on CHDN shares. JPMorgan Chase & Co. dropped their price target on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a research report on Thursday, October 16th. Macquarie reissued an “outperform” rating and issued a $155.00 target price on shares of Churchill Downs in a report on Friday, October 24th. Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Wednesday, December 24th. Wells Fargo & Company reissued an “overweight” rating and issued a $125.00 price objective (up from $115.00) on shares of Churchill Downs in a report on Monday, January 5th. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a research note on Wednesday. Twelve analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $135.36.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $106.88 on Friday. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $128.01. The business’s 50-day moving average price is $110.07 and its 200 day moving average price is $103.96. The company has a market capitalization of $7.45 billion, a PE ratio of 19.43, a price-to-earnings-growth ratio of 1.62 and a beta of 0.68. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 4.87.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 22nd. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The company had revenue of $683.00 million for the quarter, compared to the consensus estimate of $671.43 million. During the same period last year, the business posted $0.97 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, research analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which was paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th were given a $0.438 dividend. This represents a dividend yield of 39.0%. The ex-dividend date of this dividend was Friday, December 5th. This is an increase from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s payout ratio is presently 8.00%.

About Churchill Downs

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.