State of Alaska Department of Revenue Sells 145 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

State of Alaska Department of Revenue cut its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 1.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,381 shares of the company’s stock after selling 145 shares during the quarter. State of Alaska Department of Revenue’s holdings in Churchill Downs were worth $1,119,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Aigen Investment Management LP acquired a new position in Churchill Downs during the third quarter worth $516,000. Westfield Capital Management Co. LP raised its holdings in Churchill Downs by 100.0% during the third quarter. Westfield Capital Management Co. LP now owns 763,561 shares of the company’s stock worth $103,241,000 after buying an additional 381,754 shares during the last quarter. Atria Investments Inc raised its holdings in Churchill Downs by 3.9% during the third quarter. Atria Investments Inc now owns 6,004 shares of the company’s stock worth $812,000 after buying an additional 224 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Churchill Downs by 6.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 595,202 shares of the company’s stock worth $80,477,000 after buying an additional 37,679 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in Churchill Downs by 7.1% during the third quarter. JPMorgan Chase & Co. now owns 183,594 shares of the company’s stock worth $24,824,000 after buying an additional 12,226 shares during the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on CHDN shares. Mizuho lowered 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. Truist Financial reiterated a “buy” rating and issued a $165.00 target price (down previously from $166.00) on shares of Churchill Downs in a report on Friday, October 25th. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, November 6th. JMP Securities reiterated a “market outperform” rating and issued a $166.00 target price on shares of Churchill Downs in a report on Thursday, January 16th. Finally, Wells Fargo & Company lowered their target price on shares of Churchill Downs from $168.00 to $165.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $160.50.

Churchill Downs Price Performance

CHDN opened at $120.90 on Thursday. The firm has a market cap of $8.89 billion, a P/E ratio of 22.02, a PEG ratio of 3.05 and a beta of 0.95. The firm has a 50-day moving average of $129.42 and a 200 day moving average of $135.47. The company has a debt-to-equity ratio of 4.35, a quick ratio of 0.55 and a current ratio of 0.55. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21.

Churchill Downs Increases Dividend

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

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.