Commerce Bank Sells 201 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Commerce Bank reduced its stake in Churchill Downs Incorporated (NASDAQ:CHDN) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,978 shares of the company’s stock after selling 201 shares during the quarter. Commerce Bank’s holdings in Churchill Downs were worth $715,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Putnam Investments LLC raised its holdings in Churchill Downs by 8.5% in the 2nd quarter. Putnam Investments LLC now owns 70,116 shares of the company’s stock valued at $13,901,000 after acquiring an additional 5,495 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Churchill Downs by 2,596.1% in the second quarter. Public Employees Retirement System of Ohio now owns 21,892 shares of the company’s stock valued at $4,340,000 after buying an additional 21,080 shares during the period. Shell Asset Management Co. boosted its stake in shares of Churchill Downs by 61.6% in the third quarter. Shell Asset Management Co. now owns 3,636 shares of the company’s stock valued at $873,000 after buying an additional 1,386 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Churchill Downs by 13.5% in the second quarter. Dimensional Fund Advisors LP now owns 150,860 shares of the company’s stock valued at $29,910,000 after buying an additional 17,901 shares during the period. Finally, Moors & Cabot Inc. bought a new stake in shares of Churchill Downs in the third quarter valued at approximately $4,496,000. 71.86% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Churchill Downs stock opened at $212.73 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.50 and a debt-to-equity ratio of 5.79. Churchill Downs Incorporated has a twelve month low of $175.01 and a twelve month high of $262.20. The stock has a market cap of $8.14 billion, a price-to-earnings ratio of 37.52 and a beta of 1.16. The company’s fifty day moving average is $230.06 and its 200 day moving average is $220.45.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Tuesday, October 26th. The company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.14. Churchill Downs had a net margin of 14.76% and a return on equity of 73.90%. The company had revenue of $393.00 million for the quarter, compared to analysts’ expectations of $406.76 million. During the same quarter in the previous year, the firm posted $1.19 earnings per share. Churchill Downs’s revenue for the quarter was up 16.3% on a year-over-year basis. As a group, equities analysts anticipate that Churchill Downs Incorporated will post 6.7 earnings per share for the current fiscal year.

The firm also recently disclosed an annual dividend, which was paid on Friday, January 7th. Investors of record on Friday, December 3rd were paid a $0.667 dividend. This is a boost from Churchill Downs’s previous annual dividend of $0.62. The ex-dividend date of this dividend was Thursday, December 2nd. This represents a dividend yield of 0.28%. Churchill Downs’s payout ratio is currently 11.82%.

Several equities research analysts recently issued reports on CHDN shares. Susquehanna cut their price target on Churchill Downs from $275.00 to $268.00 and set a “positive” rating for the company in a research note on Thursday, November 11th. Berenberg Bank initiated coverage on shares of Churchill Downs in a research report on Tuesday, October 19th. They set a “buy” rating and a $294.00 price objective for the company. KeyCorp boosted their price objective on shares of Churchill Downs from $250.00 to $270.00 and gave the company an “overweight” rating in a research report on Wednesday, October 6th. Susquehanna Bancshares lowered their price objective on shares of Churchill Downs from $275.00 to $268.00 and set a “positive” rating for the company in a research report on Thursday, November 11th. Finally, Zacks Investment Research downgraded shares of Churchill Downs from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 28th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $267.50.

Churchill Downs Profile

Churchill Downs, Inc operates as a provider of pari-mutuel horseracing, online account wagering on horseracing and casino gaming. It operates through the following business segments: Racing, Casino, Online Wagering, Corporate, and Other Investments. The Racing segment includes Churchill Downs Racetrack, Arlington Park Racecourse, Calder Race Course, and Fair Grounds Race Course.

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

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