Police & Firemen s Retirement System of New Jersey Sells 692 Shares of Churchill Downs, Incorporated $CHDN

Police & Firemen s Retirement System of New Jersey trimmed its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,766 shares of the company’s stock after selling 692 shares during the quarter. Police & Firemen s Retirement System of New Jersey’s holdings in Churchill Downs were worth $2,501,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Churchill Downs in the 1st quarter valued at $2,987,000. LPL Financial LLC increased its stake in Churchill Downs by 51.5% in the first quarter. LPL Financial LLC now owns 61,158 shares of the company’s stock valued at $6,793,000 after acquiring an additional 20,802 shares during the period. Schulhoff & Co. Inc. bought a new position in Churchill Downs during the first quarter worth about $418,000. Foundations Investment Advisors LLC lifted its stake in Churchill Downs by 0.3% during the first quarter. Foundations Investment Advisors LLC now owns 44,338 shares of the company’s stock worth $4,925,000 after purchasing an additional 138 shares during the period. Finally, GSA Capital Partners LLP boosted its holdings in Churchill Downs by 18.3% during the first quarter. GSA Capital Partners LLP now owns 6,255 shares of the company’s stock valued at $695,000 after purchasing an additional 966 shares in the last quarter. Institutional investors and hedge funds own 82.59% of the company’s stock.

Churchill Downs Price Performance

Shares of CHDN stock opened at $104.56 on Wednesday. Churchill Downs, Incorporated has a 52 week low of $85.58 and a 52 week high of $144.23. The stock has a market capitalization of $7.29 billion, a PE ratio of 19.01, a PEG ratio of 1.84 and a beta of 0.81. The company has a debt-to-equity ratio of 4.87, a quick ratio of 0.57 and a current ratio of 0.57. The stock’s fifty day moving average is $96.55 and its 200-day moving average is $99.58.

Churchill Downs (NASDAQ:CHDN) last released its quarterly earnings results on Wednesday, October 22nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. Churchill Downs had a return on equity of 42.54% and a net margin of 13.99%.The business had revenue of $683.00 million during the quarter, compared to analysts’ expectations of $671.43 million. During the same period in the previous year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities research analysts expect that Churchill Downs, Incorporated will post 6.92 EPS for the current fiscal year.

Churchill Downs Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, January 6th. Stockholders of record on Friday, December 5th will be given a dividend of $0.438 per share. The ex-dividend date is Friday, December 5th. This is a positive change from Churchill Downs’s previous annual dividend of $0.41. This represents a dividend yield of 46.0%. Churchill Downs’s dividend payout ratio (DPR) is currently 7.82%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Susquehanna restated a “positive” rating and set a $124.00 target price (down previously from $126.00) on shares of Churchill Downs in a research report on Tuesday, October 21st. Macquarie reiterated an “outperform” rating and set a $155.00 price objective on shares of Churchill Downs in a research note on Friday, October 24th. Wells Fargo & Company started coverage on shares of Churchill Downs in a research note on Tuesday. They issued an “overweight” rating and a $115.00 target price on the stock. Mizuho upped their target price on shares of Churchill Downs from $134.00 to $136.00 and gave the stock an “outperform” rating in a report on Tuesday, July 22nd. Finally, JPMorgan Chase & Co. cut their price target on shares of Churchill Downs from $130.00 to $128.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Churchill Downs currently has an average rating of “Moderate Buy” and a consensus price target of $133.30.

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.