Principal Financial Group Inc. Decreases Stock Position in Churchill Downs Incorporated (NASDAQ:CHDN)

Principal Financial Group Inc. cut its position in Churchill Downs Incorporated (NASDAQ:CHDN) by 5.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 247,917 shares of the company’s stock after selling 14,808 shares during the quarter. Principal Financial Group Inc. owned 0.34% of Churchill Downs worth $33,107,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. boosted its stake in 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs during the 3rd quarter valued at $27,000. Fortitude Family Office LLC boosted its stake in Churchill Downs by 2,733.3% during the 4th quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after acquiring an additional 246 shares during the last quarter. Eagle Bay Advisors LLC bought a new position in Churchill Downs during the 4th quarter valued at $55,000. Finally, R Squared Ltd bought a new position in Churchill Downs during the 4th quarter valued at $55,000. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Down 1.8 %

CHDN stock opened at $116.92 on Friday. 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 fifty-two week low of $111.10 and a fifty-two week high of $150.21. The firm’s 50-day simple moving average is $126.93 and its 200 day simple moving average is $134.58. The stock has a market cap of $8.59 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 2.96 and a beta of 0.95.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.06). Churchill Downs had a return on equity of 44.76% and a net margin of 15.61%. The firm had revenue of $624.20 million during the quarter, compared to analyst estimates of $620.21 million. As a group, sell-side analysts predict that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, January 3rd. Investors of record on Friday, December 6th were issued a $0.409 dividend. This represents a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, December 6th. This is a boost from Churchill Downs’s previous annual dividend of $0.38. Churchill Downs’s dividend payout ratio (DPR) is 7.04%.

Wall Street Analyst Weigh In

CHDN has been the topic of a number of research analyst reports. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a research note on Friday. Mizuho reduced their price target on shares of Churchill Downs from $151.00 to $148.00 and set an “outperform” rating on the stock in a research report on Wednesday. StockNews.com upgraded shares of Churchill Downs from a “sell” rating to a “hold” rating in a research report on Wednesday, November 6th. Truist Financial restated a “buy” rating and issued a $165.00 price target (down from $166.00) on shares of Churchill Downs in a research report on Friday, October 25th. Finally, Stifel Nicolaus reduced their price target on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a research report on Friday. 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 stock has a consensus rating of “Moderate Buy” and a consensus target price 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.