Churchill Downs, Incorporated $CHDN Shares Sold by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC cut its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN - Free Report) by 24.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,505 shares of the company's stock after selling 10,833 shares during the quarter. Foundations Investment Advisors LLC's holdings in Churchill Downs were worth $3,384,000 as of its most recent SEC filing.

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Several other hedge funds have also recently made changes to their positions in CHDN. JLB & Associates Inc. lifted its position in Churchill Downs by 3.8% during the 2nd quarter. JLB & Associates Inc. now owns 2,867 shares of the company's stock worth $290,000 after acquiring an additional 105 shares during the period. Bessemer Group Inc. raised its stake in shares of Churchill Downs by 2.0% in the second quarter. Bessemer Group Inc. now owns 6,474 shares of the company's stock worth $654,000 after purchasing an additional 126 shares during the last quarter. Aristides Capital LLC lifted its holdings in shares of Churchill Downs by 5.7% during the first quarter. Aristides Capital LLC now owns 2,462 shares of the company's stock worth $273,000 after purchasing an additional 132 shares during the period. RPS Advisory Solutions LLC boosted its position in Churchill Downs by 4.6% in the second quarter. RPS Advisory Solutions LLC now owns 3,497 shares of the company's stock valued at $353,000 after buying an additional 154 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its holdings in Churchill Downs by 1.7% in the 2nd quarter. Teacher Retirement System of Texas now owns 11,153 shares of the company's stock worth $1,126,000 after buying an additional 183 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Churchill Downs from $130.00 to $128.00 and set an "overweight" rating for the company in a research note on Thursday, October 16th. Susquehanna reissued a "positive" rating and set a $124.00 target price (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Mizuho upped their price target on shares of Churchill Downs from $134.00 to $136.00 and gave the company an "outperform" rating in a report on Tuesday, July 22nd. Macquarie reaffirmed an "outperform" rating and set a $155.00 price target on shares of Churchill Downs in a research report on Friday, October 24th. Finally, Barclays boosted their price objective on Churchill Downs from $131.00 to $132.00 and gave the company an "overweight" rating in a report on Friday, October 24th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $137.60.

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Check Out Our Latest Report on CHDN

Churchill Downs Price Performance

Shares of Churchill Downs stock opened at $99.29 on Monday. The firm has a market cap of $6.92 billion, a PE ratio of 18.05, a P/E/G ratio of 1.84 and a beta of 0.81. Churchill Downs, Incorporated has a twelve month low of $85.58 and a twelve month high of $144.23. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 4.87. The business has a 50-day moving average price of $96.42 and a 200 day moving average price of $99.44.

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Churchill Downs (NASDAQ:CHDN - Get Free Report) last issued its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (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 quarter in the prior year, the business posted $0.97 earnings per share. Churchill Downs's revenue for the quarter was up 8.7% on a year-over-year basis. Sell-side analysts predict that Churchill Downs, Incorporated will post 6.92 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. This is a positive change from Churchill Downs's previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. This represents a dividend yield of 46.0%. Churchill Downs's payout ratio is 7.82%.

Churchill Downs 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.

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