Jennison Associates LLC Has $140.35 Million Stock Holdings in Churchill Downs, Incorporated $CHDN

Jennison Associates LLC trimmed its position in Churchill Downs, Incorporated (NASDAQ:CHDN) by 15.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,233,495 shares of the company’s stock after selling 223,841 shares during the period. Jennison Associates LLC’s holdings in Churchill Downs were worth $140,347,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Keybank National Association OH bought a new stake in Churchill Downs during the 4th quarter worth approximately $346,000. M&T Bank Corp bought a new stake in Churchill Downs during the 4th quarter worth approximately $372,000. Pictet Asset Management Holding SA increased its stake in Churchill Downs by 5.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 9,747 shares of the company’s stock worth $1,109,000 after purchasing an additional 471 shares in the last quarter. UBS Group AG increased its stake in Churchill Downs by 26.9% during the 4th quarter. UBS Group AG now owns 350,982 shares of the company’s stock worth $39,935,000 after purchasing an additional 74,421 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in Churchill Downs by 126.1% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 46,813 shares of the company’s stock worth $5,326,000 after purchasing an additional 26,105 shares in the last quarter. 82.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently issued reports on CHDN shares. Mizuho increased their target price on Churchill Downs from $146.00 to $155.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. Jefferies Financial Group reissued a “buy” rating on shares of Churchill Downs in a research note on Tuesday, April 21st. Citizens Jmp raised their price target on shares of Churchill Downs from $146.00 to $149.00 and gave the stock a “market outperform” rating in a research note on Friday, April 24th. Citigroup reaffirmed an “outperform” rating on shares of Churchill Downs in a research note on Friday, April 24th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $130.00 price target (up from $124.00) on shares of Churchill Downs in a research note on Thursday, April 16th. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Churchill Downs has a consensus rating of “Moderate Buy” and an average target price of $139.00.

Churchill Downs Price Performance

Shares of CHDN opened at $99.60 on Thursday. The stock has a market capitalization of $6.94 billion, a P/E ratio of 18.64, a P/E/G ratio of 1.47 and a beta of 0.65. Churchill Downs, Incorporated has a twelve month low of $80.24 and a twelve month high of $118.46. The company has a 50 day moving average of $90.17 and a 200-day moving average of $99.03. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.44.

Churchill Downs (NASDAQ:CHDN) last issued its quarterly earnings results on Wednesday, April 22nd. The company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.06 by $0.15. The company had revenue of $663.00 million during the quarter, compared to analysts’ expectations of $659.32 million. Churchill Downs had a net margin of 13.21% and a return on equity of 43.50%. The business’s quarterly revenue was up 3.1% on a year-over-year basis. During the same period last year, the business earned $1.07 EPS. As a group, equities research analysts forecast that Churchill Downs, Incorporated will post 7.06 EPS for the current fiscal year.

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.