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

VIRGINIA RETIREMENT SYSTEMS ET Al lifted its position in shares of Churchill Downs, Incorporated (NASDAQ:CHDN) by 1,083.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,700 shares of the company’s stock after purchasing an additional 45,500 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.07% of Churchill Downs worth $3,761,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of CHDN. Kimelman & Baird LLC purchased a new position in Churchill Downs during the 2nd quarter valued at about $27,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Churchill Downs in the 2nd quarter worth approximately $29,000. Root Financial Partners LLC lifted its holdings in Churchill Downs by 1,173.1% in the 1st quarter. Root Financial Partners LLC now owns 331 shares of the company’s stock worth $30,000 after buying an additional 305 shares during the period. Twin Tree Management LP bought a new stake in shares of Churchill Downs in the 2nd quarter worth approximately $36,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Churchill Downs in the 1st quarter worth approximately $50,000. 82.59% of the stock is currently owned by hedge funds and other institutional investors.

Churchill Downs Stock Performance

CHDN opened at $94.83 on Monday. The stock has a market cap of $6.50 billion, a PE ratio of 14.73, a PEG ratio of 1.00 and a beta of 0.77. The company has a quick ratio of 0.32, a current ratio of 0.32 and a debt-to-equity ratio of 2.95. The business has a 50 day moving average of $82.91 and a 200-day moving average of $88.28. Churchill Downs, Incorporated has a 52 week low of $73.08 and a 52 week high of $118.35.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, October 28th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.10. The company had revenue of $696.00 million for the quarter, compared to analysts’ expectations of $695.16 million. Churchill Downs had a return on equity of 39.90% and a net margin of 15.15%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.09 earnings per share. Equities research analysts predict that Churchill Downs, Incorporated will post 6.98 earnings per share for the current fiscal year.

Churchill Downs Increases Dividend

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

Key Stories Impacting Churchill Downs

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

Analyst Ratings Changes

Several research firms have recently issued reports on CHDN. Wells Fargo & Company reissued an “overweight” rating and set a $120.00 target price (up from $117.00) on shares of Churchill Downs in a research note on Monday, October 19th. JPMorgan Chase & Co. raised their price target on Churchill Downs from $118.00 to $120.00 and gave the stock an “overweight” rating in a research note on Friday. Citigroup reaffirmed a “market outperform” rating on shares of Churchill Downs in a research note on Tuesday, October 13th. Weiss Ratings upgraded shares of Churchill Downs from a “sell (d+)” rating to a “hold (c-)” rating in a report on Wednesday, September 2nd. Finally, Mizuho boosted their price objective on shares of Churchill Downs from $125.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday. Eleven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.70.

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.