Churchill Downs Incorporated (NASDAQ:CHDN) Shares Purchased by Boston Partners

Boston Partners boosted its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 25.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,794,630 shares of the company’s stock after purchasing an additional 366,283 shares during the period. Boston Partners owned about 2.44% of Churchill Downs worth $239,619,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in CHDN. Blue Trust Inc. lifted its position in shares of Churchill Downs by 127.2% during the 4th quarter. Blue Trust Inc. now owns 184 shares of the company’s stock valued at $25,000 after acquiring an additional 103 shares during the period. Wilmington Savings Fund Society FSB purchased a new position in shares of Churchill Downs during the 3rd quarter worth approximately $27,000. Fortitude Family Office LLC increased its stake in shares of Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock worth $34,000 after purchasing an additional 246 shares in the last quarter. Eagle Bay Advisors LLC acquired a new stake in shares of Churchill Downs during the fourth quarter worth $55,000. Finally, R Squared Ltd purchased a new stake in Churchill Downs in the fourth quarter valued at approximately $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 $110.39 on Wednesday. Churchill Downs Incorporated has a 1-year low of $105.18 and a 1-year high of $150.21. The business has a 50-day moving average of $120.14 and a 200-day moving average of $131.68. The company has a debt-to-equity ratio of 4.47, a current ratio of 0.57 and a quick ratio of 0.55. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 19.43, a PEG ratio of 2.95 and a beta of 0.93.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing the consensus estimate of $0.98 by ($0.06). Churchill Downs had a return on equity of 43.67% and a net margin of 15.61%. The business had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. On average, equities analysts anticipate that Churchill Downs Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs declared that its board has approved a stock buyback program on Wednesday, March 12th that allows the company to repurchase $500.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 6.4% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s board believes its stock is undervalued.

Churchill Downs Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 0.22%. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Analysts Set New Price Targets

A number of research firms have issued reports on CHDN. Stifel Nicolaus lowered their price target on Churchill Downs from $164.00 to $161.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Wells Fargo & Company lowered their price target on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating for the company in a research report on Friday, February 21st. StockNews.com raised Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $166.00 price target on shares of Churchill Downs in a research report on Thursday, January 16th. Finally, Mizuho lowered their price target on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research report on Wednesday, February 19th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $159.38.

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.