Churchill Downs (NASDAQ:CHDN) Given New $165.00 Price Target at Wells Fargo & Company

Churchill Downs (NASDAQ:CHDN) had its price objective lowered by Wells Fargo & Company from $168.00 to $165.00 in a research report released on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages also recently issued reports on CHDN. StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research note on Tuesday, October 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research note on Thursday, January 16th. Finally, Truist Financial restated a “buy” rating and set a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.50.

Churchill Downs Stock Up 0.3 %

NASDAQ:CHDN opened at $122.43 on Monday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs has a 12-month low of $111.10 and a 12-month high of $150.21. The stock’s fifty day simple moving average is $130.21 and its 200-day simple moving average is $135.72. The firm has a market capitalization of $9.00 billion, a P/E ratio of 22.30, a P/E/G ratio of 3.05 and a beta of 0.95.

Churchill Downs Increases Dividend

The business also recently declared an annual dividend, which was paid on Friday, January 3rd. Shareholders of record on Friday, December 6th were issued a $0.409 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.38. This represents a yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. Churchill Downs’s dividend payout ratio is currently 7.47%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CHDN. Aigen Investment Management LP acquired a new stake in shares of Churchill Downs in the third quarter valued at approximately $516,000. Westfield Capital Management Co. LP raised its holdings in Churchill Downs by 100.0% in the 3rd quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock valued at $103,241,000 after acquiring an additional 381,754 shares in the last quarter. Atria Investments Inc lifted its position in shares of Churchill Downs by 3.9% during the 3rd quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock valued at $812,000 after acquiring an additional 224 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Churchill Downs by 6.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after purchasing an additional 37,679 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in shares of Churchill Downs by 7.1% in the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after purchasing an additional 12,226 shares during the period. 82.59% of the stock is owned by institutional investors and hedge funds.

About Churchill Downs

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.