Churchill Downs, Incorporated $CHDN Shares Bought by Teachers Retirement System of The State of Kentucky

Teachers Retirement System of The State of Kentucky boosted its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 59.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 74,488 shares of the company’s stock after purchasing an additional 27,675 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Churchill Downs were worth $6,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in CHDN. State Street Corp increased its position in shares of Churchill Downs by 0.6% in the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock valued at $223,424,000 after buying an additional 11,523 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Churchill Downs by 0.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after acquiring an additional 7,687 shares during the last quarter. Geode Capital Management LLC increased its position in Churchill Downs by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares in the last quarter. Boston Partners raised its stake in shares of Churchill Downs by 0.9% in the 3rd quarter. Boston Partners now owns 1,257,725 shares of the company’s stock valued at $121,998,000 after acquiring an additional 11,653 shares during the period. Finally, William Blair Investment Management LLC lifted its stake in shares of Churchill Downs by 12.5% during the fourth quarter. William Blair Investment Management LLC now owns 1,145,413 shares of the company’s stock worth $130,325,000 after purchasing an additional 127,687 shares in the last quarter. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on CHDN shares. Weiss Ratings lowered Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Mizuho lifted their price target on shares of Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a report on Thursday, July 2nd. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $139.75.

Churchill Downs Trading Down 2.1%

Churchill Downs stock opened at $83.75 on Tuesday. Churchill Downs, Incorporated has a 12-month low of $80.24 and a 12-month high of $118.46. The company has a debt-to-equity ratio of 4.44, a current ratio of 0.54 and a quick ratio of 0.54. The stock has a market capitalization of $5.84 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 0.56 and a beta of 0.67. The firm has a 50 day simple moving average of $87.47 and a 200-day simple moving average of $93.00.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. Churchill Downs’s revenue was up 3.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.07 EPS. As a group, equities research analysts expect that Churchill Downs, Incorporated will post 7.32 EPS for the current fiscal year.

Churchill Downs Profile

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.