Boyd Gaming Co. (NYSE:BYD) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System reduced its position in shares of Boyd Gaming Co. (NYSE:BYD - Free Report) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 114,584 shares of the company's stock after selling 7,825 shares during the period. California Public Employees Retirement System owned about 0.13% of Boyd Gaming worth $8,312,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of BYD. Boston Partners boosted its position in Boyd Gaming by 36.9% in the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after buying an additional 1,065,887 shares during the period. Norges Bank purchased a new position in Boyd Gaming in the fourth quarter valued at $55,553,000. Raymond James Financial Inc. acquired a new position in Boyd Gaming during the 4th quarter worth $43,273,000. Arrowstreet Capital Limited Partnership increased its holdings in Boyd Gaming by 51.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after purchasing an additional 441,963 shares during the period. Finally, Allspring Global Investments Holdings LLC increased its holdings in Boyd Gaming by 226.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company's stock worth $14,569,000 after purchasing an additional 140,707 shares during the period. 76.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on BYD. Barclays boosted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the stock an "equal weight" rating in a research report on Friday, February 7th. Jefferies Financial Group upgraded shares of Boyd Gaming from a "hold" rating to a "buy" rating and boosted their price target for the stock from $73.00 to $92.00 in a report on Friday, January 3rd. Mizuho raised their price objective on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an "outperform" rating in a report on Friday, February 7th. Truist Financial lowered their target price on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Finally, Argus upgraded Boyd Gaming from a "hold" rating to a "buy" rating and set a $90.00 price target on the stock in a research note on Tuesday, December 17th. Seven investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

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Insider Activity

In other Boyd Gaming news, Director William R. Boyd sold 15,000 shares of Boyd Gaming stock in a transaction that occurred on 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 sale, the director now owns 1,472,970 shares of the company's stock, valued at approximately $116,835,980.40. The trade was a 1.01 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Marianne Boyd Johnson sold 50,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The stock was sold at an average price of $77.68, for a total value of $3,884,000.00. Following the transaction, the chairman now directly owns 1,346,628 shares of the company's stock, valued at approximately $104,606,063.04. This trade represents a 3.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,125 shares of company stock valued at $5,158,490. Company insiders own 27.94% of the company's stock.

Boyd Gaming Stock Performance

Shares of BYD stock traded up $0.25 during trading hours on Friday, hitting $64.55. The stock had a trading volume of 945,221 shares, compared to its average volume of 978,304. The stock's 50 day moving average is $70.85 and its 200 day moving average is $71.06. The firm has a market capitalization of $5.33 billion, a PE ratio of 10.38, a PEG ratio of 4.46 and a beta of 1.31. Boyd Gaming Co. has a twelve month low of $49.34 and a twelve month high of $80.50. The company has a debt-to-equity ratio of 1.85, a current ratio of 0.82 and a quick ratio of 0.79.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.75 by $0.21. Boyd Gaming had a net margin of 14.70% and a return on equity of 35.97%. As a group, research analysts forecast that Boyd Gaming Co. will post 6.52 earnings per share for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 17th will be paid a $0.18 dividend. This is an increase from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 annualized dividend and a dividend yield of 1.12%. The ex-dividend date of this dividend is Monday, March 17th. Boyd Gaming's dividend payout ratio (DPR) is 11.58%.

Boyd Gaming Company 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.