Churchill Downs Inc. (NASDAQ:CHDN) announced an annual dividend on Friday, October 28th. Shareholders of record on Friday, December 2nd will be given a dividend of 1.32 per share on Friday, January 6th. This represents a yield of 0.97%. The ex-dividend date is Wednesday, November 30th. This is a positive change from Churchill Downs’s previous annual dividend of $1.15.
Shares of Churchill Downs (NASDAQ:CHDN) opened at 135.48 on Monday. The company has a market cap of $2.25 billion, a P/E ratio of 25.95 and a beta of 0.89. Churchill Downs has a 52-week low of $118.76 and a 52-week high of $152.00. The firm has a 50-day moving average of $144.74 and a 200-day moving average of $137.03.
Churchill Downs (NASDAQ:CHDN) last issued its earnings results on Thursday, October 27th. The company reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.95 by $0.43. The company earned $303.40 million during the quarter, compared to the consensus estimate of $301.86 million. Churchill Downs had a return on equity of 13.90% and a net margin of 6.82%. Churchill Downs’s revenue was up 8.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. Equities research analysts forecast that Churchill Downs will post $5.90 earnings per share for the current year.
CHDN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of Churchill Downs from a “buy” rating to a “hold” rating in a research note on Monday, October 10th. JPMorgan Chase & Co. started coverage on shares of Churchill Downs in a research report on Thursday, September 22nd. They issued a “neutral” rating and a $160.00 price target for the company. Imperial Capital reaffirmed an “outperform” rating and issued a $165.00 price target (up previously from $145.00) on shares of Churchill Downs in a research report on Friday, October 14th. Gabelli raised shares of Churchill Downs from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Telsey Advisory Group upped their price target on shares of Churchill Downs from $173.00 to $176.00 and gave the stock an “outperform” rating in a research report on Friday, August 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $162.17.
In related news, Director Robert L. Evans sold 5,000 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of $150.00, for a total transaction of $750,000.00. Following the completion of the sale, the director now owns 184,235 shares of the company’s stock, valued at $27,635,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 19.05% of the company’s stock.
Large investors have recently bought and sold shares of the stock. BlackRock Advisors LLC boosted its stake in Churchill Downs by 5.8% in the second quarter. BlackRock Advisors LLC now owns 6,164 shares of the company’s stock worth $779,000 after buying an additional 338 shares during the last quarter. BlackRock Investment Management LLC boosted its position in Churchill Downs by 77.3% in the second quarter. BlackRock Investment Management LLC now owns 80,049 shares of the company’s stock worth $10,115,000 after buying an additional 34,911 shares in the last quarter. BlackRock Inc. boosted its position in Churchill Downs by 438.2% in the second quarter. BlackRock Inc. now owns 4,844 shares of the company’s stock worth $613,000 after buying an additional 3,944 shares in the last quarter. BlackRock Fund Advisors boosted its position in Churchill Downs by 109.8% in the second quarter. BlackRock Fund Advisors now owns 638,771 shares of the company’s stock worth $80,715,000 after buying an additional 334,299 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in Churchill Downs by 17.7% in the second quarter. BlackRock Group LTD now owns 9,904 shares of the company’s stock worth $1,251,000 after buying an additional 1,492 shares in the last quarter. 72.13% of the stock is owned by institutional investors.
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