Federated Hermes Inc. Has $2.11 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

Federated Hermes Inc. cut its stake in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 46.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 29,110 shares of the company's stock after selling 24,760 shares during the quarter. Federated Hermes Inc.'s holdings in Boyd Gaming were worth $2,112,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Stifel Financial Corp raised its position in shares of Boyd Gaming by 2.1% in the third quarter. Stifel Financial Corp now owns 19,699 shares of the company's stock valued at $1,274,000 after buying an additional 414 shares during the last quarter. State Street Corp raised its stake in Boyd Gaming by 0.8% during the third quarter. State Street Corp now owns 2,108,672 shares of the company's stock worth $136,680,000 after purchasing an additional 17,591 shares during the period. Orion Portfolio Solutions LLC acquired a new position in shares of Boyd Gaming in the 3rd quarter valued at $216,000. Public Employees Retirement System of Ohio increased its holdings in shares of Boyd Gaming by 3.2% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 28,222 shares of the company's stock worth $1,825,000 after buying an additional 875 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Boyd Gaming by 23.9% in the 3rd quarter. Barclays PLC now owns 167,542 shares of the company's stock worth $10,831,000 after buying an additional 32,332 shares during the period. 76.81% of the stock is owned by hedge funds and other institutional investors.

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Boyd Gaming Trading Up 0.9 %

Shares of Boyd Gaming stock traded up $0.61 on Tuesday, reaching $65.27. 520,043 shares of the company were exchanged, compared to its average volume of 977,771. The company has a current ratio of 0.82, a quick ratio of 0.79 and a debt-to-equity ratio of 1.85. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The firm has a market capitalization of $5.39 billion, a price-to-earnings ratio of 10.49, a price-to-earnings-growth ratio of 4.46 and a beta of 1.31. The stock has a fifty day moving average price of $70.35 and a 200-day moving average price of $71.06.

Boyd Gaming (NYSE:BYD - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 EPS for the quarter, beating analysts' consensus estimates of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. On average, analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.10%. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. Boyd Gaming's dividend payout ratio is presently 11.58%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BYD. Mizuho lifted their price target on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a research report on Friday, February 7th. Jefferies Financial Group upgraded Boyd Gaming from a "hold" rating to a "buy" rating and raised their price objective for the company from $73.00 to $92.00 in a research note on Friday, January 3rd. Barclays boosted their target price on shares of Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Wells Fargo & Company upped their price target on Boyd Gaming from $82.00 to $88.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Argus upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 target price for the company in a research note on Tuesday, December 17th. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Boyd Gaming presently has a consensus rating of "Moderate Buy" and a consensus price target of $95.00.

Insiders Place Their Bets

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total value of $1,189,800.00. Following the completion of the sale, the director now owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. The trade was a 1.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Christine J. Spadafor sold 1,125 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $75.28, for a total value of $84,690.00. Following the completion of the transaction, the director now directly owns 4,852 shares in the company, valued at $365,258.56. The trade was a 18.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 66,125 shares of company stock worth $5,158,490. 27.94% of the stock is currently owned by company insiders.

Boyd Gaming Profile

Boyd Gaming Corporation, together with its subsidiaries, operates as a multi-jurisdictional gaming company in Nevada, Illinois, Indiana, Iowa, Kansas, Louisiana, Mississippi, Missouri, Ohio, and Pennsylvania. The company operates through Las Vegas Locals, Downtown Las Vegas, Midwest & South, and Online segments.