New York State Teachers Retirement System Lowers Stake in Boyd Gaming Co. (NYSE:BYD)

New York State Teachers Retirement System lessened its position in Boyd Gaming Co. (NYSE:BYD - Free Report) by 13.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 78,785 shares of the company's stock after selling 12,689 shares during the period. New York State Teachers Retirement System owned 0.09% of Boyd Gaming worth $5,715,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in shares of Boyd Gaming by 226.5% in 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. Burns Matteson Capital Management LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $392,000. Empowered Funds LLC lifted its position in shares of Boyd Gaming by 219.0% in the 4th quarter. Empowered Funds LLC now owns 29,998 shares of the company's stock worth $2,176,000 after purchasing an additional 20,593 shares during the period. Golden State Wealth Management LLC purchased a new stake in shares of Boyd Gaming in the 4th quarter worth about $67,000. Finally, Hantz Financial Services Inc. lifted its position in shares of Boyd Gaming by 30.2% in the 4th quarter. Hantz Financial Services Inc. now owns 20,824 shares of the company's stock worth $1,511,000 after purchasing an additional 4,828 shares during the period. Institutional investors own 76.81% of the company's stock.

Boyd Gaming Stock Down 3.2 %

Boyd Gaming stock traded down $2.56 during trading hours on Friday, hitting $76.86. The stock had a trading volume of 711,691 shares, compared to its average volume of 952,179. The company has a quick ratio of 0.79, a current ratio of 0.82 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $6.79 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 4.46 and a beta of 1.54. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $80.50. The stock's 50-day moving average price is $74.77 and its 200-day moving average price is $68.84.

Boyd Gaming (NYSE:BYD - Get Free Report) last issued its earnings results 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%. Equities research analysts anticipate that Boyd Gaming Co. will post 6.52 EPS for the current fiscal year.

Boyd Gaming Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 17th will be paid a $0.18 dividend. The ex-dividend date is Monday, March 17th. This is a positive change from Boyd Gaming's previous quarterly dividend of $0.17. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.94%. Boyd Gaming's payout ratio is currently 10.93%.

Boyd Gaming announced that its Board of Directors has initiated a stock repurchase plan on Thursday, December 5th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 7.6% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's management believes its stock is undervalued.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wells Fargo & Company raised their target price on shares of Boyd Gaming from $82.00 to $88.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Argus raised 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 report on Tuesday, December 17th. Stifel Nicolaus lifted their price target on shares of Boyd Gaming from $74.00 to $82.00 and gave the company a "hold" rating in a research report on Friday, February 7th. JMP Securities reissued a "market perform" rating on shares of Boyd Gaming in a research report on Friday, February 7th. Finally, Jefferies Financial Group raised shares of Boyd Gaming from a "hold" rating to a "buy" rating and lifted their price target for the company from $73.00 to $92.00 in a research report on Friday, January 3rd. Seven analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Boyd Gaming currently has a consensus rating of "Moderate Buy" and an average price target of $95.00.

Insider Transactions at Boyd Gaming

In other news, Director Christine J. Spadafor sold 660 shares of Boyd Gaming stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total value of $49,948.80. Following the completion of the sale, the director now directly owns 5,977 shares in the company, valued at $452,339.36. The trade was a 9.94 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William R. Boyd sold 15,000 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the sale, the director now owns 1,472,970 shares of the company's stock, valued at $116,835,980.40. This trade represents a 1.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 65,660 shares of company stock worth $5,123,749 over the last three months. 27.94% of the stock is currently owned by company insiders.

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.