Churchill Downs, Incorporated (CHDN) Holdings Decreased by California State Teachers Retirement System
California State Teachers Retirement System decreased its stake in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 10.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,949 shares of the company’s stock after selling 2,669 shares during the quarter. California State Teachers Retirement System owned about 0.15% of Churchill Downs, worth $4,390,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of CHDN. Citigroup Inc. boosted its stake in shares of Churchill Downs, by 352.2% during the 2nd quarter. Citigroup Inc. now owns 719 shares of the company’s stock worth $132,000 after acquiring an additional 560 shares during the period. Bruderman Asset Management LLC bought a new position in shares of Churchill Downs, during the 2nd quarter worth approximately $161,000. LS Investment Advisors LLC boosted its stake in shares of Churchill Downs, by 19.8% during the 2nd quarter. LS Investment Advisors LLC now owns 890 shares of the company’s stock worth $163,000 after acquiring an additional 147 shares during the period. Strs Ohio boosted its stake in shares of Churchill Downs, by 150.0% during the 2nd quarter. Strs Ohio now owns 1,000 shares of the company’s stock worth $183,000 after acquiring an additional 600 shares during the period. Finally, Sawgrass Asset Management LLC bought a new position in shares of Churchill Downs, during the 2nd quarter worth approximately $203,000. 74.44% of the stock is currently owned by hedge funds and other institutional investors.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $198.25, for a total transaction of $991,250.00. Following the completion of the sale, the director now directly owns 90,878 shares of the company’s stock, valued at $18,016,563.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 18.44% of the company’s stock.
Churchill Downs, (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.08 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.18. The company had revenue of $314.80 million during the quarter, compared to the consensus estimate of $308.43 million. Churchill Downs, had a return on equity of 17.27% and a net margin of 9.75%. Churchill Downs,’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business posted $0.52 earnings per share.
The firm also recently declared an annual dividend, which will be paid on Friday, January 5th. Investors of record on Friday, December 1st will be given a dividend of $1.52 per share. This represents a dividend yield of 0.73%. This is an increase from Churchill Downs,’s previous annual dividend of $1.32. The ex-dividend date of this dividend is Thursday, November 30th. Churchill Downs,’s dividend payout ratio (DPR) is presently 16.65%.
Several brokerages have recently commented on CHDN. BidaskClub upgraded Churchill Downs, from a “hold” rating to a “buy” rating in a research note on Saturday, August 5th. Telsey Advisory Group lifted their target price on Churchill Downs, from $196.00 to $209.00 and gave the stock a “market perform” rating in a research note on Thursday, October 12th. Imperial Capital reiterated a “buy” rating on shares of Churchill Downs, in a research note on Sunday, July 30th. Finally, Zacks Investment Research upgraded Churchill Downs, from a “hold” rating to a “strong-buy” rating and set a $215.00 target price for the company in a research note on Tuesday, August 1st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $210.67.
About Churchill Downs,
Churchill Downs Incorporated is a racing, gaming and online entertainment company. The Company is engaged in brick-and-mortar casino gaming with approximately 9,030 gaming positions in seven states, and is a legal mobile and online platform for betting on horseracing in the United States. It operates through six segments: Racing, Casinos, TwinSpires, Big Fish Games, Other Investments and Corporate.
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