US Bancorp DE Has $213,000 Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

US Bancorp DE increased its position in shares of Boyd Gaming Co. (NYSE:BYD) by 13.6% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,943 shares of the company’s stock after purchasing an additional 353 shares during the quarter. US Bancorp DE’s holdings in Boyd Gaming were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the company. State Street Corp grew its position 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 buying an additional 17,591 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Boyd Gaming by 3.0% during the third quarter. Geode Capital Management LLC now owns 1,153,768 shares of the company’s stock valued at $74,611,000 after purchasing an additional 33,379 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Boyd Gaming by 5.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 971,921 shares of the company’s stock valued at $62,835,000 after purchasing an additional 54,128 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Boyd Gaming by 6,158.8% during the third quarter. Victory Capital Management Inc. now owns 908,905 shares of the company’s stock valued at $58,761,000 after purchasing an additional 894,383 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in Boyd Gaming by 226.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 202,824 shares of the company’s stock valued at $14,569,000 after purchasing an additional 140,707 shares in the last quarter. 76.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on BYD shares. Barclays lifted their price objective on Boyd Gaming from $74.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday, February 7th. JMP Securities reaffirmed a “market perform” rating on shares of Boyd Gaming in a report on Friday, February 7th. Jefferies Financial Group raised Boyd Gaming from a “hold” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $92.00 in a report on Friday, January 3rd. Truist Financial lifted their price objective on Boyd Gaming from $85.00 to $88.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Argus raised Boyd Gaming from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a report on Tuesday, December 17th. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $95.20.

Insider Buying and Selling

In other Boyd Gaming news, Chairman Marianne Boyd Johnson sold 50,000 shares of the company’s stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $77.68, for a total transaction of $3,884,000.00. Following the completion of the sale, the chairman now owns 1,346,628 shares in the company, valued at approximately $104,606,063.04. The trade was a 3.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director William R. Boyd sold 15,000 shares of the company’s stock in a transaction 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. The trade was a 1.01 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,125 shares of company stock worth $5,158,490 in the last quarter. Insiders own 27.94% of the company’s stock.

Boyd Gaming Stock Performance

BYD stock opened at $68.48 on Friday. 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 company has a 50 day moving average price of $74.64 and a 200 day moving average price of $70.33. Boyd Gaming Co. has a fifty-two week low of $49.34 and a fifty-two week high of $80.50. The stock has a market capitalization of $5.73 billion, a PE ratio of 11.01, a price-to-earnings-growth ratio of 4.46 and a beta of 1.55.

Boyd Gaming (NYSE:BYD) last posted its quarterly earnings data on Thursday, February 6th. The company reported $1.96 earnings per share 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%. Analysts forecast that Boyd Gaming Co. will post 6.52 EPS for the current year.

Boyd Gaming Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 17th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Monday, March 17th. This is a boost from Boyd Gaming’s previous quarterly dividend of $0.17. Boyd Gaming’s payout ratio is 11.58%.

Boyd Gaming announced that its Board of Directors has approved 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 reacquire up to 7.6% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board believes its stock is undervalued.

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.