Principal Financial Group Inc. Has $13.38 Million Stock Position in Churchill Downs, Incorporated $CHDN

Principal Financial Group Inc. boosted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 4.9% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 148,969 shares of the company’s stock after purchasing an additional 6,916 shares during the quarter. Principal Financial Group Inc. owned about 0.21% of Churchill Downs worth $13,382,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank bought a new position in Churchill Downs in the 4th quarter valued at about $90,529,000. AQR Capital Management LLC lifted its holdings in shares of Churchill Downs by 22,974.8% during the 2nd quarter. AQR Capital Management LLC now owns 788,006 shares of the company’s stock worth $79,352,000 after acquiring an additional 784,591 shares during the period. Balyasny Asset Management L.P. boosted its position in shares of Churchill Downs by 94.1% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,020,393 shares of the company’s stock worth $116,100,000 after acquiring an additional 494,553 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Churchill Downs by 49.0% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,376,402 shares of the company’s stock worth $133,525,000 after acquiring an additional 452,716 shares in the last quarter. Finally, Vaughan Nelson Investment Management L.P. bought a new position in Churchill Downs in the fourth quarter valued at approximately $43,434,000. Institutional investors own 82.59% of the company’s stock.

Churchill Downs Trading Up 3.3%

Shares of Churchill Downs stock opened at $86.50 on Friday. The firm’s 50 day moving average is $86.77 and its 200 day moving average is $91.28. The firm has a market capitalization of $6.03 billion, a PE ratio of 16.02, a price-to-earnings-growth ratio of 0.54 and a beta of 0.67. Churchill Downs, Incorporated has a 1 year low of $80.24 and a 1 year high of $118.35. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings data on Wednesday, April 22nd. The company reported $1.21 EPS for the quarter, beating the consensus estimate of $1.06 by $0.15. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business had revenue of $663.00 million during the quarter, compared to the consensus estimate of $659.32 million. During the same quarter in the prior year, the firm earned $1.07 EPS. The firm’s revenue was up 3.1% compared to the same quarter last year. Equities research analysts forecast that Churchill Downs, Incorporated will post 7.14 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lowered their price objective on shares of Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, July 14th. Truist Financial set a $145.00 target price on Churchill Downs in a report on Friday, June 12th. Weiss Ratings lowered Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Monday, May 4th. Mizuho boosted their price target on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a report on Friday, April 24th. Finally, Citigroup restated an “outperform” rating on shares of Churchill Downs in a research report on Friday, April 24th. Nine research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Churchill Downs currently has a consensus rating of “Moderate Buy” and a consensus target price of $138.50.

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.