Retirement Systems of Alabama Has $12.22 Million Position in Boyd Gaming Co. (NYSE:BYD)

Retirement Systems of Alabama grew its holdings in Boyd Gaming Co. (NYSE:BYD) by 37.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 195,134 shares of the company’s stock after buying an additional 52,972 shares during the quarter. Retirement Systems of Alabama owned 0.20% of Boyd Gaming worth $12,217,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Fuller & Thaler Asset Management Inc. raised its position in Boyd Gaming by 885.4% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,657,441 shares of the company’s stock worth $100,822,000 after purchasing an additional 1,489,240 shares in the last quarter. HG Vora Capital Management LLC lifted its position in shares of Boyd Gaming by 12.5% during the 3rd quarter. HG Vora Capital Management LLC now owns 2,250,000 shares of the company’s stock worth $136,868,000 after buying an additional 250,000 shares during the period. American Century Companies Inc. boosted its stake in Boyd Gaming by 40.5% in the 3rd quarter. American Century Companies Inc. now owns 824,200 shares of the company’s stock valued at $50,136,000 after buying an additional 237,525 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Boyd Gaming in the fourth quarter valued at $117,720,000. Finally, Vanguard Group Inc. raised its stake in Boyd Gaming by 2.1% during the third quarter. Vanguard Group Inc. now owns 7,980,306 shares of the company’s stock worth $485,442,000 after acquiring an additional 167,849 shares in the last quarter. 76.81% of the stock is owned by institutional investors.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $53.36 on Thursday. The stock has a market capitalization of $5.11 billion, a P/E ratio of 9.55, a P/E/G ratio of 2.55 and a beta of 1.60. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.65. Boyd Gaming Co. has a 1-year low of $52.42 and a 1-year high of $73.00. The business has a 50-day moving average price of $63.62 and a two-hundred day moving average price of $61.95.

Boyd Gaming (NYSE:BYD) last announced its quarterly earnings data on Thursday, February 8th. The company reported $1.66 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.23. The business had revenue of $954.41 million for the quarter, compared to analyst estimates of $928.04 million. Boyd Gaming had a net margin of 14.91% and a return on equity of 34.77%. Boyd Gaming’s revenue was up 3.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.72 earnings per share. Equities analysts predict that Boyd Gaming Co. will post 6.13 earnings per share for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Friday, March 15th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend was Thursday, March 14th. This is an increase from Boyd Gaming’s previous quarterly dividend of $0.16. Boyd Gaming’s dividend payout ratio is currently 12.21%.

Insiders Place Their Bets

In related news, major shareholder William S. Boyd sold 63,464 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $63.12, for a total value of $4,005,847.68. Following the sale, the insider now directly owns 8,795,449 shares in the company, valued at approximately $555,168,740.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Boyd Gaming news, major shareholder William S. Boyd sold 63,464 shares of Boyd Gaming stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $63.12, for a total transaction of $4,005,847.68. Following the transaction, the insider now directly owns 8,795,449 shares in the company, valued at $555,168,740.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder William S. Boyd sold 125,000 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $63.72, for a total value of $7,965,000.00. Following the completion of the sale, the insider now owns 9,108,913 shares of the company’s stock, valued at $580,419,936.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 582,910 shares of company stock worth $37,299,461. Insiders own 28.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Truist Financial lowered their target price on shares of Boyd Gaming from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Susquehanna reaffirmed a “neutral” rating and set a $75.00 price objective (down from $84.00) on shares of Boyd Gaming in a research note on Monday, February 12th. Morgan Stanley lifted their target price on shares of Boyd Gaming from $71.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 9th. Mizuho decreased their price target on Boyd Gaming from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Barclays cut their price objective on Boyd Gaming from $70.00 to $68.00 and set an “equal weight” rating for the company in a research report on Friday, April 26th. Seven analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $72.20.

About Boyd Gaming

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.