Capital International Sarl Sells 473 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Capital International Sarl cut its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 4.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,817 shares of the company’s stock after selling 473 shares during the period. Capital International Sarl’s holdings in Churchill Downs were worth $1,445,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in Churchill Downs by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 20,400 shares of the company’s stock valued at $2,724,000 after purchasing an additional 100 shares during the period. Blue Trust Inc. raised its position in shares of Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after acquiring an additional 103 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Churchill Downs by 0.6% in the fourth quarter. Arizona State Retirement System now owns 19,165 shares of the company’s stock worth $2,559,000 after acquiring an additional 116 shares during the period. CIBC Asset Management Inc boosted its holdings in Churchill Downs by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 2,252 shares of the company’s stock valued at $301,000 after acquiring an additional 120 shares during the last quarter. Finally, Cetera Trust Company N.A increased its position in Churchill Downs by 7.7% during the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock valued at $251,000 after purchasing an additional 135 shares during the period. 82.59% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CHDN. StockNews.com cut Churchill Downs from a “hold” rating to a “sell” rating in a report on Tuesday, April 8th. Barclays began coverage on shares of Churchill Downs in a research report on Friday, April 11th. They set an “overweight” rating and a $125.00 target price for the company. Stifel Nicolaus dropped their price target on shares of Churchill Downs from $161.00 to $142.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. JMP Securities reissued a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average price target of $153.44.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $101.36 on Friday. The company has a debt-to-equity ratio of 4.47, a quick ratio of 0.55 and a current ratio of 0.57. Churchill Downs Incorporated has a fifty-two week low of $96.67 and a fifty-two week high of $150.21. The firm has a market cap of $7.45 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.95 and a beta of 0.86. The business has a 50 day moving average price of $110.87 and a 200-day moving average price of $126.46.

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

Churchill Downs Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.24%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Churchill Downs announced that its board has authorized a share buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to repurchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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.