Retirement Systems of Alabama Has $9.36 Million Holdings in Churchill Downs, Inc. (CHDN)

Retirement Systems of Alabama trimmed its stake in Churchill Downs, Inc. (NASDAQ:CHDN) by 5.4% in the third quarter, HoldingsChannel reports. The firm owned 33,720 shares of the company’s stock after selling 1,906 shares during the quarter. Retirement Systems of Alabama’s holdings in Churchill Downs were worth $9,364,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Stock Yards Bank & Trust Co. grew its stake in Churchill Downs by 2.0% in the third quarter. Stock Yards Bank & Trust Co. now owns 10,400 shares of the company’s stock valued at $2,888,000 after purchasing an additional 200 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Churchill Downs by 6.5% in the third quarter. Louisiana State Employees Retirement System now owns 3,300 shares of the company’s stock valued at $916,000 after purchasing an additional 200 shares in the last quarter. Arizona State Retirement System grew its stake in Churchill Downs by 3.1% in the second quarter. Arizona State Retirement System now owns 7,896 shares of the company’s stock valued at $2,341,000 after purchasing an additional 239 shares in the last quarter. HL Financial Services LLC grew its stake in Churchill Downs by 2.4% in the second quarter. HL Financial Services LLC now owns 11,307 shares of the company’s stock valued at $3,353,000 after purchasing an additional 263 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. grew its stake in Churchill Downs by 6.6% in the second quarter. Cookson Peirce & Co. Inc. now owns 5,680 shares of the company’s stock valued at $1,684,000 after purchasing an additional 350 shares in the last quarter. Hedge funds and other institutional investors own 69.79% of the company’s stock.

A number of research firms have weighed in on CHDN. BidaskClub downgraded Churchill Downs from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. ValuEngine downgraded Churchill Downs from a “buy” rating to a “hold” rating in a research note on Tuesday, October 23rd. Zacks Investment Research downgraded Churchill Downs from a “hold” rating to a “sell” rating in a research note on Monday, September 24th. Finally, Jefferies Financial Group set a $325.00 price target on Churchill Downs and gave the company a “hold” rating in a research note on Thursday, September 20th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $316.67.

CHDN opened at $270.64 on Friday. Churchill Downs, Inc. has a 12-month low of $206.00 and a 12-month high of $314.60. The company has a market capitalization of $3.31 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 1.14 and a beta of 0.95. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.95.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.48 by ($0.43). Churchill Downs had a net margin of 32.00% and a return on equity of 27.68%. The business had revenue of $221.30 million during the quarter, compared to analyst estimates of $208.87 million. During the same period in the previous year, the business earned $1.08 earnings per share. The business’s quarterly revenue was up 12.4% on a year-over-year basis. As a group, equities research analysts anticipate that Churchill Downs, Inc. will post 10.72 earnings per share for the current fiscal year.

The firm also recently disclosed an annual dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 7th will be given a $1.63 dividend. This represents a dividend yield of 0.6%. This is a boost from Churchill Downs’s previous annual dividend of $1.52. The ex-dividend date of this dividend is Thursday, December 6th. Churchill Downs’s dividend payout ratio (DPR) is presently 25.85%.

Churchill Downs Profile

Churchill Downs Incorporated operates as a racing, gaming, and online entertainment company in the United States. It operates through Racing, Casinos, TwinSpires, and Other Investments segments. The company operates 4 racetracks, including Churchill Downs Racetrack in Louisville, Kentucky; Arlington International Race Course in Arlington Heights with 11 off-track betting (OTB) facilities in Illinois; Fair Grounds Race Course in New Orleans along with 12 OTBs in Louisiana; and Calder Race Course in Miami Gardens, Florida.

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Institutional Ownership by Quarter for Churchill Downs (NASDAQ:CHDN)

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