45,500 Churchill Downs, Incorporated $CHDN Shares Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its stake in Churchill Downs, Incorporated (NASDAQ:CHDN) by 1,083.3% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,700 shares of the company’s stock after purchasing an additional 45,500 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Churchill Downs were worth $3,761,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in CHDN. Simplicity Wealth LLC bought a new position in Churchill Downs during the 3rd quarter valued at approximately $215,000. Sage Private Wealth Group LLC bought a new stake in Churchill Downs in the third quarter worth $225,000. Skylands Capital LLC boosted its holdings in Churchill Downs by 62.0% in the third quarter. Skylands Capital LLC now owns 167,256 shares of the company’s stock worth $12,658,000 after acquiring an additional 64,006 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Churchill Downs by 3.7% in the third quarter. Nisa Investment Advisors LLC now owns 7,335 shares of the company’s stock worth $555,000 after acquiring an additional 260 shares in the last quarter. Finally, Miller Financial Services LLC grew its stake in shares of Churchill Downs by 3.6% in the third quarter. Miller Financial Services LLC now owns 3,610 shares of the company’s stock worth $273,000 after acquiring an additional 125 shares during the last quarter. 82.59% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on CHDN. Susquehanna reduced their price target on Churchill Downs from $124.00 to $115.00 and set a “positive” rating for the company in a report on Wednesday, October 21st. Wolfe Research started coverage on Churchill Downs in a research report on Wednesday, September 2nd. They issued an “outperform” rating and a $119.00 price target for the company. Truist Financial dropped their price target on shares of Churchill Downs from $145.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, October 20th. JPMorgan Chase & Co. increased their price objective on shares of Churchill Downs from $118.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday. Finally, Weiss Ratings upgraded shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Wednesday, September 2nd. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $126.70.

Churchill Downs Price Performance

NASDAQ CHDN opened at $94.83 on Monday. Churchill Downs, Incorporated has a one year low of $73.08 and a one year high of $118.35. The stock has a 50-day moving average of $82.91 and a 200 day moving average of $88.28. The company has a debt-to-equity ratio of 2.95, a quick ratio of 0.32 and a current ratio of 0.32. The company has a market capitalization of $6.50 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.00 and a beta of 0.77.

Churchill Downs (NASDAQ:CHDN) last posted its earnings results on Wednesday, October 28th. The company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.10. The business had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $695.16 million. Churchill Downs had a net margin of 15.15% and a return on equity of 39.90%. The business’s revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.09 EPS. On average, sell-side analysts forecast that Churchill Downs, Incorporated will post 6.98 EPS for the current year.

Churchill Downs Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, January 5th. Stockholders of record on Friday, December 4th will be issued a dividend of $0.4690 per share. The ex-dividend date of this dividend is Friday, December 4th. This is a positive change from Churchill Downs’s previous annual dividend of $0.4380. This represents a dividend yield of 57.0%. Churchill Downs’s dividend payout ratio is presently 6.83%.

Churchill Downs News Summary

Here are the key news stories impacting Churchill Downs this week:

• Positive Sentiment: Third-quarter results exceeded expectations. Churchill Downs reported adjusted earnings of $1.23 per share, ahead of the approximately $1.13 consensus estimate, while revenue reached $696.0 million versus expectations of roughly $695.2 million. Revenue increased 1.9% year over year, and the earnings performance appears to have strengthened investor confidence in the company’s cash-flow outlook. Churchill Downs third-quarter earnings results
• Positive Sentiment: $750 million share repurchase authorized. The buyback could support earnings per share and provide demand for CHDN shares, particularly as management emphasizes cash generation. Churchill Downs $750 million buyback
• Positive Sentiment: Analysts raised their targets. Barclays increased its target from $132 to $133 and maintained an “overweight” rating, while Mizuho lifted its target from $125 to $126 and retained an “outperform” rating. Both imply substantial upside from the recent trading level. Barclays Churchill Downs rating Mizuho Churchill Downs rating
• Positive Sentiment: Dividend increased. Churchill Downs declared an annual dividend of $0.469 per share, up 7.1% from $0.438, payable January 5, 2027. The increase adds to the shareholder-return appeal, although the dividend yield remains modest. Churchill Downs dividend declaration
• Positive Sentiment: Technical momentum improved. CHDN shares broke above their 200-day moving average, a development that may attract momentum-oriented investors. Churchill Downs moves above 200-day moving average
• Neutral Sentiment: Churchill Downs appointed Michael Tucker as a Class II director. The board change is unlikely to materially affect near-term valuation. Michael Tucker board appointment
• Negative Sentiment: Stifel lowered its price target to $131, modestly tempering the otherwise bullish analyst tone, although it kept CHDN on its Select List. Stifel Churchill Downs price target

Churchill Downs Profile

Churchill Downs Incorporated (NASDAQ: CHDN) is a gaming, racing and entertainment company best known for operating Churchill Downs Racetrack in Louisville, Kentucky, the home of the Kentucky Derby. The company traces its history to the opening of Churchill Downs in 1875 and has expanded its operations beyond traditional Thoroughbred racing.

Its business activities include live and historical horse racing, pari-mutuel wagering, casino gaming, video lottery and related entertainment offerings.