State of New Jersey Common Pension Fund D Acquires 792 Shares of Churchill Downs, Incorporated $CHDN

State of New Jersey Common Pension Fund D boosted its holdings in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,215 shares of the company’s stock after buying an additional 792 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Churchill Downs were worth $2,042,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of CHDN. Bessemer Group Inc. increased its holdings in shares of Churchill Downs by 2.8% in the 1st quarter. Bessemer Group Inc. now owns 6,348 shares of the company’s stock valued at $705,000 after acquiring an additional 175 shares during the period. KBC Group NV boosted its stake in Churchill Downs by 14.3% in the first quarter. KBC Group NV now owns 2,904 shares of the company’s stock valued at $323,000 after acquiring an additional 363 shares in the last quarter. Private Trust Co. NA raised its holdings in shares of Churchill Downs by 154.9% in the first quarter. Private Trust Co. NA now owns 543 shares of the company’s stock worth $60,000 after buying an additional 330 shares during the last quarter. Teacher Retirement System of Texas raised its holdings in shares of Churchill Downs by 19.3% in the first quarter. Teacher Retirement System of Texas now owns 10,970 shares of the company’s stock worth $1,218,000 after buying an additional 1,774 shares during the last quarter. Finally, Barlow Wealth Partners Inc. raised its holdings in shares of Churchill Downs by 0.3% in the first quarter. Barlow Wealth Partners Inc. now owns 126,121 shares of the company’s stock worth $14,008,000 after buying an additional 353 shares during the last quarter. Institutional investors own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on CHDN. Weiss Ratings reissued a “hold (c-)” rating on shares of Churchill Downs in a report on Wednesday, October 8th. JPMorgan Chase & Co. reduced their target price on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Macquarie reaffirmed an “outperform” rating and issued a $155.00 price objective on shares of Churchill Downs in a report on Friday, October 24th. Mizuho lifted their price objective 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. Finally, Susquehanna reaffirmed a “positive” rating and issued a $124.00 price objective (down previously from $126.00) on shares of Churchill Downs in a report on Tuesday, October 21st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $137.60.

Churchill Downs Stock Up 1.0%

CHDN opened at $100.64 on Thursday. The company has a fifty day moving average of $97.41 and a two-hundred day moving average of $99.27. Churchill Downs, Incorporated has a fifty-two week low of $85.58 and a fifty-two week high of $150.21. The stock has a market capitalization of $7.02 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 1.82 and a beta of 0.83. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57.

Churchill Downs (NASDAQ:CHDN) last announced its earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $0.12. Churchill Downs had a net margin of 13.99% and a return on equity of 42.54%. The business had revenue of $683.00 million for the quarter, compared to analyst estimates of $671.43 million. During the same quarter last year, the business earned $0.97 earnings per share. The company’s revenue for the quarter was up 8.7% compared to the same quarter last year. On average, research analysts expect that Churchill Downs, Incorporated will post 6.92 earnings per share for the current year.

Churchill Downs Increases Dividend

The business 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 $0.438 dividend. This represents a dividend yield of 46.0%. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. The ex-dividend date is Friday, December 5th. Churchill Downs’s dividend payout ratio (DPR) is 7.45%.

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.