Greenwood Capital Associates LLC Decreases Stock Holdings in Churchill Downs Incorporated (NASDAQ:CHDN)

Greenwood Capital Associates LLC lowered its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 4.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,480 shares of the company’s stock after selling 348 shares during the quarter. Greenwood Capital Associates LLC’s holdings in Churchill Downs were worth $999,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Winslow Asset Management Inc. lifted its holdings in shares of Churchill Downs by 2.8% during the 3rd quarter. Winslow Asset Management Inc. now owns 3,280 shares of the company’s stock valued at $443,000 after buying an additional 90 shares during the period. Venturi Wealth Management LLC lifted its holdings in Churchill Downs by 13.3% in the third quarter. Venturi Wealth Management LLC now owns 767 shares of the company’s stock valued at $104,000 after acquiring an additional 90 shares during the period. Commerce Bank lifted its holdings in Churchill Downs by 1.8% in the third quarter. Commerce Bank now owns 5,072 shares of the company’s stock valued at $686,000 after acquiring an additional 90 shares during the period. Blue Trust Inc. grew its stake 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 purchasing an additional 103 shares during the period. Finally, Cetera Trust Company N.A grew its stake in shares of Churchill Downs by 7.7% during the 4th quarter. Cetera Trust Company N.A now owns 1,877 shares of the company’s stock valued at $251,000 after purchasing an additional 135 shares during the period. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Stock Performance

NASDAQ CHDN opened at $123.90 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.55 and a debt-to-equity ratio of 4.35. Churchill Downs Incorporated has a twelve month low of $111.10 and a twelve month high of $150.21. The business has a 50-day moving average price of $131.75 and a 200-day moving average price of $136.21. The firm has a market cap of $9.11 billion, a price-to-earnings ratio of 22.57, a price-to-earnings-growth ratio of 3.06 and a beta of 0.95.

Churchill Downs Increases Dividend

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

Analysts Set New Price Targets

A number of research firms recently issued reports on CHDN. Wells Fargo & Company raised their price objective on shares of Churchill Downs from $161.00 to $168.00 and gave the stock an “overweight” rating in a report on Thursday, October 17th. JMP Securities reissued a “market outperform” rating and set a $166.00 price objective on shares of Churchill Downs in a research report on Thursday, January 16th. Truist Financial restated a “buy” rating and issued a $165.00 price objective (down from $166.00) on shares of Churchill Downs in a research note on Friday, October 25th. Mizuho lowered their target price on Churchill Downs from $157.00 to $151.00 and set an “outperform” rating on the stock in a research report on Tuesday, October 22nd. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $160.88.

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.