South Dakota Investment Council Invests $1.60 Million in Churchill Downs, Incorporated $CHDN

South Dakota Investment Council purchased a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 15,869 shares of the company’s stock, valued at approximately $1,603,000.

Several other institutional investors and hedge funds have also modified their holdings of CHDN. Private Trust Co. NA lifted its position in shares of Churchill Downs by 154.9% during the 1st quarter. Private Trust Co. NA now owns 543 shares of the company’s stock valued at $60,000 after buying an additional 330 shares in the last quarter. Teacher Retirement System of Texas raised its stake in Churchill Downs by 19.3% during the 1st quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company’s stock worth $1,218,000 after acquiring an additional 1,774 shares during the period. OneDigital Investment Advisors LLC raised its stake in Churchill Downs by 4.2% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,237 shares of the company’s stock worth $360,000 after acquiring an additional 130 shares during the period. Envestnet Asset Management Inc. raised its stake in Churchill Downs by 3.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 306,771 shares of the company’s stock worth $34,073,000 after acquiring an additional 11,460 shares during the period. Finally, J Hagan Capital Inc. bought a new stake in Churchill Downs during the 1st quarter worth approximately $931,000. Hedge funds and other institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Down 0.6%

CHDN stock opened at $98.61 on Tuesday. Churchill Downs, Incorporated has a 1-year low of $85.58 and a 1-year high of $150.21. The company has a debt-to-equity ratio of 4.87, a current ratio of 0.57 and a quick ratio of 0.57. The company has a market capitalization of $6.88 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.84 and a beta of 0.83. The business has a 50 day simple moving average of $97.18 and a two-hundred day simple moving average of $99.21.

Churchill Downs (NASDAQ:CHDN) last posted its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to the consensus estimate of $671.43 million. During the same period in the prior year, the company posted $0.97 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Research analysts anticipate that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The company 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. The ex-dividend date is Friday, December 5th. This represents a dividend yield of 46.0%. This is an increase from Churchill Downs’s previous annual dividend of $0.41. Churchill Downs’s dividend payout ratio is currently 7.82%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on CHDN shares. Stifel Nicolaus raised their target price on shares of Churchill Downs from $130.00 to $133.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Weiss Ratings restated a “hold (c-)” rating on shares of Churchill Downs in a research note on Wednesday, October 8th. Macquarie restated an “outperform” rating and set a $155.00 target price on shares of Churchill Downs in a research note on Friday, October 24th. JPMorgan Chase & Co. decreased their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating on the stock in a research note on Thursday, October 16th. Finally, Truist Financial decreased their target price on shares of Churchill Downs from $150.00 to $145.00 and set a “buy” rating on the stock in a research note on Wednesday, July 16th. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus target price of $137.60.

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.