FMR LLC & Abigail Johnson Report 7.257% Stake in Churchill Downs

TL;DR

**FMR LLC and Abigail Johnson still own 7.257% of Churchill Downs, showing they're holding strong.**

AI Summary

FMR LLC, a major investment firm, and its CEO, Abigail P. Johnson, have updated their ownership in Churchill Downs Inc. (CHDN) as of February 9, 2024. They now collectively beneficially own 5,413,696 shares of common stock, representing 7.257% of the company. This is an amendment to a previous filing, indicating a change in their reported holdings, which matters to investors as it shows a significant institutional holder's continued, albeit slightly adjusted, stake in the company.

Why It Matters

This filing shows that a major institutional investor, FMR LLC, and its leader, Abigail P. Johnson, maintain a significant stake in Churchill Downs, signaling their continued confidence (or at least, holding) in the company's future. Large institutional ownership can provide stability but also means big moves by such holders can impact stock price.

Risk Assessment

Risk Level: low — This filing is a routine update of a significant shareholder's stake and does not indicate any immediate high-risk events.

Analyst Insight

Investors should note that a major institutional holder, FMR LLC, continues to hold a substantial position in Churchill Downs. While this filing doesn't indicate a new investment, it confirms their ongoing commitment, which can be a positive signal for long-term stability. However, it's crucial to monitor future filings for any significant changes in their stake, as large sales could impact the stock price.

Key Numbers

• 5,413,696 — Shares Beneficially Owned (This is the total number of Churchill Downs common stock shares FMR LLC and Abigail P. Johnson collectively own.)
• 7.257% — Percentage of Class Owned (This represents the significant portion of Churchill Downs that FMR LLC and Abigail P. Johnson control.)

Key Players & Entities

• FMR LLC (company) — reporting person and parent holding company
• Abigail P. Johnson (person) — reporting person, likely CEO of FMR LLC
• Churchill Downs Inc. (company) — the issuer of the common stock
• 5,413,696 (dollar_amount) — total shares beneficially owned by FMR LLC and Abigail P. Johnson
• 7.257% (dollar_amount) — percentage of common stock owned by FMR LLC and Abigail P. Johnson

Forward-Looking Statements

• FMR LLC will maintain a significant stake in Churchill Downs Inc. for the foreseeable future. (FMR LLC) — medium confidence, target: 2025-02-09

FAQ

From the Filing

0000315066-24-001084.txt : 20240209 0000315066-24-001084.hdr.sgml : 20240209 20240209085019 ACCESSION NUMBER: 0000315066-24-001084 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240209 DATE AS OF CHANGE: 20240209 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: Churchill Downs Inc CENTRAL INDEX KEY: 0000020212 STANDARD INDUSTRIAL CLASSIFICATION: SERVICES-RACING, INCLUDING TRACK OPERATION [7948] ORGANIZATION NAME: 07 Trade & Services IRS NUMBER: 610156015 STATE OF INCORPORATION: KY FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-30865 FILM NUMBER: 24611466 BUSINESS ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 BUSINESS PHONE: 15023941166 MAIL ADDRESS: STREET 1: 600 N HURSTBOURNE PKWY STREET 2: STE 400 CITY: LOUISVILLE STATE: KY ZIP: 40222-5389 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS Inc DATE OF NAME CHANGE: 20160105 FORMER COMPANY: FORMER CONFORMED NAME: CHURCHILL DOWNS INC DATE OF NAME CHANGE: 19920703 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: FMR LLC CENTRAL INDEX KEY: 0000315066 STANDARD INDUSTRIAL CLASSIFICATION: UNKNOWN SIC - 0000 [0000] ORGANIZATION NAME: IRS NUMBER: 043532603 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 BUSINESS PHONE: 6175706339 MAIL ADDRESS: STREET 1: 245 SUMMER STREET CITY: BOSTON STATE: MA ZIP: 02210 FORMER COMPANY: FORMER CONFORMED NAME: FMR CORP DATE OF NAME CHANGE: 19920717 SC 13G/A 1 filing.txt SCHEDULE 13G Amendment No.5 CHURCHILL DOWNS INC COMMON STOCK Cusip #171484108 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: [x] Rule 13d-1(b) [ ] Rule 13d-1(c) [ ] Rule 13d-1(d) Cusip #171484108 Item 1: Reporting Person - FMR LLC Item 2: (a) [ ] (b) [ ] Item 4: Delaware Item 5: 5,409,572 Item 6: 0 Item 7: 5,413,696 Item 8: 0 Item 9: 5,413,696 Item 11: 7.257% Item 12: HC Cusip #171484108 Item 1: Reporting Person - Abigail P. Johnson Item 2: (a) [ ] (b) [ ] Item 4: United States of America Item 5: 0 Item 6: 0 Item 7: 5,413,696 Item 8: 0 Item 9: 5,413,696 Item 11: 7.257% Item 12: IN Item 1(a). Name of Issuer: CHURCHILL DOWNS INC Item 1(b). Address of Issuer's Principal Executive Offices: 600 N. Hurstbourne Pkwy, Suite 400 Louisville, KY 40222 USA Item 2(a). Name of Person Filing: FMR LLC Item 2(b). Address or Principal Business Office or, if None, Residence: 245 Summer Street, Boston, Massachusetts 02210 Item 2(c). Citizenship: Not applicable Item 2(d). Title of Class of Securities: COMMON STOCK Item 2(e). CUSIP Number: 171484108 Item 3. This statement is filed pursuant to Rule 13d-1(b) or 13d-2(b) or (c) and the person filing, FMR LLC, is a parent holding company in accordance with Section 240.13d-1(b)(1)(ii)(G). (Note: See Exhibit A). Item 4. Ownership (a) Amount Beneficially Owned: 5,413,696 (b) Percent of Class: 7.257% (c) Number of shares as to which such person has: (i) sole power to vote or to direct the vote: Please see the responses to Items 5 and 6 on the cover page (ii) shared power to vote or to direct the vote: 0 (iii) sole power to dispose or to direct the disposition of: 5,413,696 (iv) shared power to dispose or to direct the disposition of: 0 Item 5. Ownership of Five Percent or Less of a Class. Not applicable. Item 6. Ownership of More than Five Percent on Behalf of Another Person. One or more other persons are known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the COMMON STOCK of CHURCHILL DOWNS INC. No one other person's interest in the COMMON STOCK of CHURCHILL DOWNS INC is more than five percent of the total outstanding COMMON STOCK. Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. See attached Exhibit A. Ite