Barlow Wealth Partners Inc. Acquires 3,076 Shares of Churchill Downs Incorporated (NASDAQ:CHDN)

Barlow Wealth Partners Inc. lifted its holdings in shares of Churchill Downs Incorporated (NASDAQ:CHDN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 125,768 shares of the company’s stock after buying an additional 3,076 shares during the period. Churchill Downs comprises 2.0% of Barlow Wealth Partners Inc.’s holdings, making the stock its 22nd largest position. Barlow Wealth Partners Inc. owned approximately 0.17% of Churchill Downs worth $15,959,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in Churchill Downs in the third quarter valued at approximately $27,000. Fortitude Family Office LLC grew its stake in shares of Churchill Downs by 2,733.3% in the fourth quarter. Fortitude Family Office LLC now owns 255 shares of the company’s stock valued at $34,000 after buying an additional 246 shares in the last quarter. Kimelman & Baird LLC acquired a new position in Churchill Downs during the second quarter worth $42,000. Eagle Bay Advisors LLC acquired a new position in Churchill Downs during the fourth quarter worth $55,000. Finally, UMB Bank n.a. raised its position in Churchill Downs by 82.8% during the third quarter. UMB Bank n.a. now owns 563 shares of the company’s stock worth $76,000 after acquiring an additional 255 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Analysts Set New Price Targets

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

Churchill Downs Stock Performance

CHDN opened at $126.39 on Wednesday. The company has a debt-to-equity ratio of 4.35, a current ratio of 0.55 and a quick ratio of 0.55. The business has a fifty day simple moving average of $134.89 and a 200 day simple moving average of $137.35. Churchill Downs Incorporated has a 1 year low of $111.10 and a 1 year high of $150.21. The company has a market capitalization of $9.29 billion, a PE ratio of 23.02, a price-to-earnings-growth ratio of 2.95 and a beta of 0.96.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 23rd. The company reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.01. Churchill Downs had a return on equity of 45.48% and a net margin of 15.45%. The company had revenue of $628.50 million during the quarter, compared to the consensus estimate of $627.90 million. During the same quarter last year, the firm earned $0.87 earnings per share. The company’s revenue was up 9.8% on a year-over-year basis. Research analysts expect that Churchill Downs Incorporated will post 5.84 EPS for the current year.

Churchill Downs Increases Dividend

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

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.