Geode Capital Management LLC Has $151.09 Million Stake in Churchill Downs, Incorporated $CHDN

Geode Capital Management LLC grew its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.5% in the 4th quarter, Holdings Channel reports. The fund owned 1,327,655 shares of the company’s stock after buying an additional 32,445 shares during the period. Geode Capital Management LLC’s holdings in Churchill Downs were worth $151,089,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Geneos Wealth Management Inc. raised its stake in Churchill Downs by 1,364.7% during the first quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares in the last quarter. Measured Wealth Private Client Group LLC acquired a new position in Churchill Downs during the third quarter worth about $25,000. TFC Financial Management Inc. acquired a new position in Churchill Downs during the fourth quarter worth about $47,000. UMB Bank n.a. raised its stake in Churchill Downs by 62.7% during the third quarter. UMB Bank n.a. now owns 550 shares of the company’s stock worth $53,000 after acquiring an additional 212 shares in the last quarter. Finally, Hantz Financial Services Inc. raised its stake in Churchill Downs by 35.2% during the third quarter. Hantz Financial Services Inc. now owns 634 shares of the company’s stock worth $62,000 after acquiring an additional 165 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on CHDN. Wells Fargo & Company reissued an “overweight” rating and set a $130.00 target price (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Citizens Jmp boosted their target price on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research note on Friday, April 24th. Mizuho boosted their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Citigroup reissued an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Jefferies Financial Group restated a “buy” rating on shares of Churchill Downs in a report on Tuesday, April 21st. Eleven equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $139.00.

Churchill Downs Stock Performance

NASDAQ:CHDN opened at $86.16 on Friday. The stock has a market cap of $6.01 billion, a P/E ratio of 15.96, a price-to-earnings-growth ratio of 0.57 and a beta of 0.68. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44. The stock’s 50-day moving average is $89.64 and its 200-day moving average is $97.47. Churchill Downs, Incorporated has a 1-year low of $80.24 and a 1-year high of $118.46.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million for the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a return on equity of 43.50% and a net margin of 13.21%.The business’s quarterly revenue was up 3.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.07 earnings per share. Equities research analysts anticipate that Churchill Downs, Incorporated will post 7.32 earnings per share for the current year.

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.