32,000 Shares in Churchill Downs, Incorporated $CHDN Acquired by Kentucky Farm Bureau Mutual Insurance Co

Kentucky Farm Bureau Mutual Insurance Co acquired a new position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 32,000 shares of the company’s stock, valued at approximately $2,868,000.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new stake in shares of Churchill Downs during the second quarter worth $555,948,000. State Street Corp increased its position in Churchill Downs by 0.6% in the fourth quarter. State Street Corp now owns 1,956,295 shares of the company’s stock worth $223,424,000 after purchasing an additional 11,523 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings in Churchill Downs by 0.6% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,384,089 shares of the company’s stock worth $157,482,000 after purchasing an additional 7,687 shares during the last quarter. Geode Capital Management LLC raised its holdings in Churchill Downs by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 1,327,655 shares of the company’s stock worth $151,089,000 after purchasing an additional 32,445 shares during the last quarter. Finally, Boston Partners lifted its position in Churchill Downs by 0.9% during the 3rd quarter. Boston Partners now owns 1,257,725 shares of the company’s stock valued at $121,998,000 after purchasing an additional 11,653 shares during the period. 82.59% of the stock is currently owned by institutional investors.

Churchill Downs Stock Up 3.5%

Churchill Downs stock opened at $91.75 on Thursday. The firm has a market capitalization of $6.39 billion, a price-to-earnings ratio of 15.74, a PEG ratio of 0.84 and a beta of 0.68. The company’s 50 day simple moving average is $87.05 and its 200 day simple moving average is $88.88. The company has a debt-to-equity ratio of 3.06, a current ratio of 0.36 and a quick ratio of 0.36. Churchill Downs, Incorporated has a fifty-two week low of $79.40 and a fifty-two week high of $118.35.

Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Wednesday, July 29th. The company reported $3.45 EPS for the quarter, meeting the consensus estimate of $3.45. The firm had revenue of $980.00 million during the quarter, compared to the consensus estimate of $977.38 million. Churchill Downs had a net margin of 13.82% and a return on equity of 42.16%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.10 earnings per share. As a group, sell-side analysts anticipate that Churchill Downs, Incorporated will post 7.14 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on CHDN. Jefferies Financial Group reaffirmed a “buy” rating on shares of Churchill Downs in a research note on Thursday, July 2nd. Susquehanna boosted their price target on shares of Churchill Downs from $121.00 to $124.00 and gave the stock a “positive” rating in a research note on Friday, July 31st. Truist Financial set a $145.00 price objective on shares of Churchill Downs in a report on Friday, June 12th. Wells Fargo & Company reduced their price objective on shares of Churchill Downs from $120.00 to $117.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Finally, Mizuho lifted their target price on shares of Churchill Downs from $155.00 to $157.00 and gave the stock an “outperform” rating in a report on Monday, August 3rd. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus price target of $136.88.

Churchill Downs Company Profile

Churchill Downs Incorporated is a leading American entertainment and gaming company best known for operating the Churchill Downs racetrack in Louisville, Kentucky, home of the annual Kentucky Derby. Beyond its signature thoroughbred racing venue, the company manages a diversified portfolio of live racing facilities, casinos, and off-track betting operations. Its services encompass pari-mutuel wagering, historical horse racing machines, and online betting through its TwinSpires platform, reaching horse racing and sports betting enthusiasts nationwide.

In its live racing segment, Churchill Downs oversees a network of racetracks and racing festivals, offering year-round events in multiple states.