Americana Partners LLC Has $294,000 Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Americana Partners LLC lessened its holdings in Churchill Downs Incorporated (NASDAQ:CHDN) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,200 shares of the company’s stock after selling 200 shares during the period. Americana Partners LLC’s holdings in Churchill Downs were worth $294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of CHDN. Blue Trust Inc. boosted its position in shares of Churchill Downs by 127.2% in the fourth quarter. Blue Trust Inc. now owns 184 shares of the company’s stock worth $25,000 after buying an additional 103 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Churchill Downs during the third quarter valued at $27,000. Fortitude Family Office LLC boosted its position 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 during the last quarter. Eagle Bay Advisors LLC acquired a new stake in Churchill Downs during the fourth quarter valued at $55,000. Finally, R Squared Ltd acquired a new stake in Churchill Downs during the fourth quarter valued at $55,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of NASDAQ:CHDN opened at $121.58 on Wednesday. Churchill Downs Incorporated has a fifty-two week low of $111.10 and a fifty-two week high of $150.21. The business has a 50-day moving average of $128.06 and a two-hundred day moving average of $134.89. The stock has a market capitalization of $8.94 billion, a P/E ratio of 22.15, a P/E/G ratio of 3.05 and a beta of 0.95. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55.

Churchill Downs Increases Dividend

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

Analyst Upgrades and Downgrades

CHDN has been the subject of a number of research reports. Wells Fargo & Company reduced their price objective on Churchill Downs from $168.00 to $165.00 and set an “overweight” rating for the company in a research report on Monday, February 10th. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Mizuho reduced their price objective on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating for the company in a research report on Tuesday, October 22nd. Truist Financial reissued a “buy” rating and set a $165.00 price objective (down previously from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $160.50.

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.