Boyd Gaming Co. (NYSE:BYD) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. grew its position in Boyd Gaming Co. (NYSE:BYD) by 0.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 974,973 shares of the company’s stock after acquiring an additional 3,052 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Boyd Gaming were worth $70,725,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of BYD. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Boyd Gaming in the third quarter worth about $241,000. US Bancorp DE raised its position in shares of Boyd Gaming by 21.0% during the 3rd quarter. US Bancorp DE now owns 2,590 shares of the company’s stock worth $167,000 after purchasing an additional 449 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Boyd Gaming by 921.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 889 shares of the company’s stock worth $57,000 after purchasing an additional 802 shares during the last quarter. Covestor Ltd raised its position in shares of Boyd Gaming by 54.9% during the 3rd quarter. Covestor Ltd now owns 587 shares of the company’s stock worth $38,000 after purchasing an additional 208 shares during the last quarter. Finally, Venturi Wealth Management LLC raised its position in shares of Boyd Gaming by 85.3% during the 3rd quarter. Venturi Wealth Management LLC now owns 943 shares of the company’s stock worth $61,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 76.81% of the company’s stock.

Boyd Gaming Stock Performance

Boyd Gaming stock opened at $66.86 on Wednesday. The firm has a 50 day simple moving average of $74.95 and a 200-day simple moving average of $70.32. Boyd Gaming Co. has a 1-year low of $49.34 and a 1-year 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. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.75, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings results on Thursday, February 6th. The company reported $1.96 earnings per share for the quarter, beating 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%. On average, analysts expect that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The company 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. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.72 annualized dividend and a dividend yield of 1.08%. Boyd Gaming’s dividend payout ratio is 11.58%.

Boyd Gaming declared that its board has authorized a share buyback program on Thursday, December 5th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to buy up to 7.6% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

Several research firms recently weighed in on BYD. JPMorgan Chase & Co. upped their price target on shares of Boyd Gaming from $74.00 to $80.00 and gave the stock a “neutral” rating in a research report on Friday, January 24th. Truist Financial upped their price target on shares of Boyd Gaming from $85.00 to $88.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Jefferies Financial Group upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and upped their price target for the stock from $73.00 to $92.00 in a research report on Friday, January 3rd. Argus upgraded shares of Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price target for the company in a research report on Tuesday, December 17th. Finally, Mizuho upped their price objective on shares of Boyd Gaming from $79.00 to $86.00 and gave the company an “outperform” rating in a research note on Friday, February 7th. Eight equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $95.20.

Insider Activity

In related news, Director Christine J. Spadafor sold 660 shares of the stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $75.68, for a total transaction of $49,948.80. Following the completion of the transaction, the director now owns 5,977 shares of the company’s stock, valued at approximately $452,339.36. This trade represents a 9.94 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $79.32, for a total transaction of $1,189,800.00. Following the transaction, the director now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 66,785 shares of company stock valued at $5,208,439 in the last 90 days. Company insiders own 27.94% of the company’s stock.

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.