California Public Employees Retirement System Has $12.07 Million Stake in Churchill Downs, Incorporated $CHDN

California Public Employees Retirement System raised its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 12.7% in the first quarter, HoldingsChannel.com reports. The fund owned 134,335 shares of the company’s stock after purchasing an additional 15,141 shares during the quarter. California Public Employees Retirement System’s holdings in Churchill Downs were worth $12,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of CHDN. Geneos Wealth Management Inc. increased its holdings in shares of Churchill Downs by 1,364.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 249 shares of the company’s stock worth $28,000 after acquiring an additional 232 shares during the last quarter. Measured Wealth Private Client Group LLC bought a new stake in Churchill Downs in the 3rd quarter valued at $25,000. Parkside Financial Bank & Trust boosted its stake in shares of Churchill Downs by 293.8% in the fourth quarter. Parkside Financial Bank & Trust now owns 256 shares of the company’s stock valued at $29,000 after buying an additional 191 shares during the period. Root Financial Partners LLC lifted its position in shares of Churchill Downs by 1,173.1% during the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock valued at $30,000 after acquiring an additional 305 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Churchill Downs in the 4th quarter valued at about $38,000. 82.59% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on CHDN. Citizens Jmp upped their price objective on Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research report on Friday, April 24th. Mizuho increased their price objective on shares of Churchill Downs from $146.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Wells Fargo & Company dropped their price target on Churchill Downs from $132.00 to $120.00 and set an “overweight” rating for the company in a research note on Tuesday, July 14th. Weiss Ratings downgraded Churchill Downs from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, May 4th. Finally, Citigroup reiterated an “outperform” rating on shares of Churchill Downs in a report on Friday, April 24th. Nine investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, Churchill Downs has an average rating of “Moderate Buy” and a consensus target price of $138.50.

Churchill Downs Trading Up 3.3%

CHDN opened at $86.50 on Friday. Churchill Downs, Incorporated has a 52 week low of $80.24 and a 52 week high of $118.35. The stock has a market cap of $6.03 billion, a PE ratio of 16.02, a PEG ratio of 0.54 and a beta of 0.67. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44. The business has a 50 day moving average of $86.77 and a 200-day moving average of $91.28.

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

About Churchill Downs

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.