Creative Planning Purchases 620 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Creative Planning increased its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 15.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,655 shares of the company’s stock after buying an additional 620 shares during the period. Creative Planning’s holdings in Churchill Downs were worth $629,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the stock. Kimelman & Baird LLC purchased a new stake in Churchill Downs during the 2nd quarter valued at about $42,000. Central Pacific Bank Trust Division acquired a new stake in shares of Churchill Downs in the first quarter worth $44,000. CWM LLC raised its holdings in shares of Churchill Downs by 36.8% during the second quarter. CWM LLC now owns 439 shares of the company’s stock worth $61,000 after purchasing an additional 118 shares during the last quarter. UMB Bank n.a. lifted its position in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock valued at $76,000 after purchasing an additional 255 shares during the period. Finally, Bank & Trust Co purchased a new stake in shares of Churchill Downs in the second quarter worth about $84,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Price Performance

Shares of NASDAQ CHDN opened at $137.26 on Tuesday. The company’s fifty day moving average is $138.25 and its two-hundred day moving average is $136.68. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. The firm has a market capitalization of $10.09 billion, a P/E ratio of 25.00, a PEG ratio of 3.88 and a beta of 0.96. Churchill Downs Incorporated has a one year low of $111.10 and a one year high of $146.64.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.01. The firm had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. Churchill Downs had a net margin of 15.45% and a return on equity of 45.48%. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period last year, the firm posted $0.87 EPS. Analysts forecast that Churchill Downs Incorporated will post 5.86 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 3rd. Stockholders of record on Friday, December 6th will be given a $0.409 dividend. The ex-dividend date is Friday, December 6th. This represents a dividend yield of 0.29%. This is an increase from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s payout ratio is currently 6.92%.

Analysts Set New Price Targets

Several brokerages recently weighed in on CHDN. Jefferies Financial Group lifted their price target on Churchill Downs from $153.00 to $160.00 and gave the company a “buy” rating in a research note on Thursday, July 11th. Mizuho decreased their price objective on shares of Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their target price on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a research note on Thursday, October 17th. StockNews.com lowered shares of Churchill Downs from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Finally, Stifel Nicolaus boosted their price objective on Churchill Downs from $153.00 to $160.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. One equities research analyst has rated the stock with a sell rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Churchill Downs presently has an average rating of “Moderate Buy” and an average price target of $160.88.

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.