Churchill Downs, Incorporated (CHDN) To Go Ex-Dividend on December 4th

Churchill Downs, Incorporated (NASDAQ:CHDN) announced an annual dividend on Wednesday, October 28th. Investors of record on Friday, December 4th will be paid a dividend of $0.4690 per share on Tuesday, January 5th. This represents a dividend yield of 57.0%. The ex-dividend date of this dividend is Friday, December 4th. This is a 7.1% increase from Churchill Downs’s previous annual dividend of $0.4380.

Churchill Downs has raised its dividend payment by an average of 0.1% annually over the last three years and has raised its dividend annually for the last 14 consecutive years. Churchill Downs has a payout ratio of 6.4% indicating that its dividend is sufficiently covered by earnings. Analysts expect Churchill Downs to earn $7.49 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 5.7%.

Churchill Downs Stock Up 11.2%

NASDAQ:CHDN opened at $91.16 on Friday. Churchill Downs has a fifty-two week low of $73.08 and a fifty-two week high of $118.35. The company’s 50-day simple moving average is $82.88 and its 200-day simple moving average is $88.33. The company has a debt-to-equity ratio of 3.06, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market capitalization of $6.35 billion, a P/E ratio of 14.16, a P/E/G ratio of 0.87 and a beta of 0.77.

Churchill Downs (NASDAQ:CHDN) last announced its 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 firm had revenue of $696.00 million for the quarter, compared to the consensus estimate of $695.16 million. Churchill Downs had a return on equity of 41.89% 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 previous year, the business earned $1.09 EPS. On average, equities analysts anticipate that Churchill Downs will post 6.98 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. ProShare Advisors LLC boosted its position in shares of Churchill Downs by 13.8% during the third quarter. ProShare Advisors LLC now owns 331,954 shares of the company’s stock worth $25,122,000 after buying an additional 40,339 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al grew its stake in shares of Churchill Downs by 1,083.3% in the third quarter. VIRGINIA RETIREMENT SYSTEMS ET Al now owns 49,700 shares of the company’s stock valued at $3,761,000 after buying an additional 45,500 shares in the last quarter. Simplicity Wealth LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter valued at $215,000. Sage Private Wealth Group LLC purchased a new stake in shares of Churchill Downs in the 3rd quarter valued at $225,000. Finally, Skylands Capital LLC lifted its stake in Churchill Downs by 62.0% during the 3rd 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. Hedge funds and other institutional investors own 82.59% of the company’s stock.

About Churchill Downs

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.