Empowered Funds LLC Has $1.66 Million Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Empowered Funds LLC increased its position in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 33.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,441 shares of the company’s stock after buying an additional 3,086 shares during the quarter. Empowered Funds LLC’s holdings in Churchill Downs were worth $1,661,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CHDN. Blue Trust Inc. boosted its holdings in Churchill Downs by 127.2% during the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after purchasing an additional 103 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in Churchill Downs during the third quarter valued at approximately $27,000. Fortitude Family Office LLC boosted its holdings in Churchill Downs by 2,733.3% during the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs during the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd acquired a new stake in Churchill Downs during the fourth quarter valued at approximately $55,000. 82.59% of the stock is owned by institutional investors and hedge funds.

Churchill Downs Stock Performance

CHDN stock opened at $122.11 on Friday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The company has a 50 day moving average price of $128.72 and a 200 day moving average price of $135.17. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The stock has a market capitalization of $8.98 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 3.05 and a beta of 0.95.

Churchill Downs Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have weighed in on CHDN. Truist Financial reaffirmed 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. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JMP Securities reissued a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Mizuho reduced their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Finally, Wells Fargo & Company reduced their target price on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating on the stock in a report on Monday, February 10th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $160.50.

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.