Schroder Investment Management Group Acquires 77,213 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Schroder Investment Management Group raised its stake in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 5.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,499,874 shares of the company’s stock after buying an additional 77,213 shares during the period. Schroder Investment Management Group’s holdings in Churchill Downs were worth $201,223,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in CHDN. Blue Trust Inc. increased its holdings 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 last quarter. Wilmington Savings Fund Society FSB bought a new stake in Churchill Downs during the third quarter worth approximately $27,000. Fortitude Family Office LLC grew its holdings 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 bought a new position in shares of Churchill Downs in the fourth quarter valued at approximately $55,000. Finally, R Squared Ltd acquired a new stake in shares of Churchill Downs in the fourth quarter worth $55,000. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Stock Performance

Shares of NASDAQ CHDN opened at $111.23 on Friday. The firm has a market capitalization of $8.17 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 2.95 and a beta of 0.93. Churchill Downs Incorporated has a one year low of $105.18 and a one year high of $150.21. The business has a fifty day simple moving average of $117.77 and a 200 day simple moving average of $130.28. The company has a current ratio of 0.57, a quick ratio of 0.55 and a debt-to-equity ratio of 4.47.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, February 19th. The company reported $0.92 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $620.21 million. Sell-side analysts expect that Churchill Downs Incorporated will post 6.92 EPS for the current year.

Churchill Downs Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 0.22%. Churchill Downs’s payout ratio is 7.04%.

Churchill Downs declared that its Board of Directors has initiated a share buyback program on Wednesday, March 12th that authorizes the company to repurchase $500.00 million in shares. This repurchase authorization authorizes the company to purchase up to 6.4% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Analyst Upgrades and Downgrades

CHDN has been the topic of several recent analyst reports. Stifel Nicolaus dropped their target price on shares of Churchill Downs from $164.00 to $161.00 and set a “buy” rating on the stock in a report on Friday, February 21st. JMP Securities reiterated a “market outperform” rating and issued a $166.00 price objective on shares of Churchill Downs in a research note on Thursday, January 16th. Mizuho decreased their target price on Churchill Downs from $151.00 to $148.00 and set an “outperform” rating for the company in a research note on Wednesday, February 19th. Wells Fargo & Company lowered their target price on Churchill Downs from $165.00 to $158.00 and set an “overweight” rating on the stock in a report on Friday, February 21st. Finally, StockNews.com upgraded Churchill Downs from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $159.38.

Churchill Downs Company Profile

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.