Retirement Systems of Alabama Has $21.70 Million Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Retirement Systems of Alabama grew its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 22.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 160,849 shares of the company’s stock after buying an additional 29,979 shares during the quarter. Retirement Systems of Alabama owned 0.22% of Churchill Downs worth $21,703,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CHDN. Vanguard Group Inc. raised its position in Churchill Downs by 0.8% in the third quarter. Vanguard Group Inc. now owns 6,689,337 shares of the company’s stock worth $776,231,000 after purchasing an additional 56,318 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Churchill Downs by 8.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,086,275 shares of the company’s stock worth $126,051,000 after buying an additional 83,214 shares in the last quarter. Jennison Associates LLC lifted its position in shares of Churchill Downs by 28.9% during the 4th quarter. Jennison Associates LLC now owns 803,074 shares of the company’s stock worth $108,359,000 after buying an additional 179,814 shares during the period. Bank of New York Mellon Corp boosted its stake in Churchill Downs by 5.1% in the 3rd quarter. Bank of New York Mellon Corp now owns 668,860 shares of the company’s stock valued at $77,615,000 after buying an additional 32,751 shares in the last quarter. Finally, Northern Trust Corp grew its position in Churchill Downs by 0.4% in the third quarter. Northern Trust Corp now owns 490,503 shares of the company’s stock valued at $56,918,000 after acquiring an additional 1,873 shares during the period. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CHDN. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a report on Friday. Stifel Nicolaus lifted their price target on shares of Churchill Downs from $150.00 to $153.00 and gave the company a “buy” rating in a report on Friday. Mizuho upped their price objective on shares of Churchill Downs from $142.00 to $143.00 and gave the stock a “buy” rating in a research note on Friday. JMP Securities reaffirmed a “market outperform” rating and set a $150.00 price objective on shares of Churchill Downs in a report on Wednesday, April 10th. Finally, Truist Financial boosted their target price on Churchill Downs from $140.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $144.50.

Churchill Downs Stock Performance

Shares of Churchill Downs stock opened at $130.14 on Tuesday. The firm has a 50 day simple moving average of $120.22 and a 200 day simple moving average of $121.02. Churchill Downs Incorporated has a fifty-two week low of $106.45 and a fifty-two week high of $150.45. The company has a debt-to-equity ratio of 5.88, a current ratio of 0.50 and a quick ratio of 0.50. The firm has a market cap of $9.57 billion, a P/E ratio of 28.98, a P/E/G ratio of 9.01 and a beta of 1.03.

Churchill Downs (NASDAQ:CHDN) last released its earnings results on Wednesday, April 24th. The company reported $1.13 EPS for the quarter, beating the consensus estimate of $0.78 by $0.35. Churchill Downs had a return on equity of 44.99% and a net margin of 13.72%. The company had revenue of $590.90 million during the quarter, compared to analysts’ expectations of $565.41 million. During the same period last year, the firm earned $0.98 EPS. The business’s revenue for the quarter was up 5.6% on a year-over-year basis. Sell-side analysts predict that Churchill Downs Incorporated will post 5.48 earnings per share for the current fiscal year.

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; and casino gaming.