Principal Financial Group Inc. Acquires 538 Shares of Boyd Gaming Corporation (NYSE:BYD)

Principal Financial Group Inc. increased its holdings in shares of Boyd Gaming Corporation (NYSE:BYD) by 0.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 152,383 shares of the company’s stock after purchasing an additional 538 shares during the period. Principal Financial Group Inc. owned approximately 0.18% of Boyd Gaming worth $10,031,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the business. CoreCap Advisors LLC boosted its position in Boyd Gaming by 91.0% during the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company’s stock worth $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Boyd Gaming by 68.0% in the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company’s stock valued at $51,000 after buying an additional 313 shares during the last quarter. UMB Bank n.a. boosted its holdings in shares of Boyd Gaming by 156.0% in the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company’s stock valued at $66,000 after buying an additional 613 shares during the last quarter. Investment Counsel Co. of Nevada acquired a new stake in shares of Boyd Gaming in the 4th quarter valued at approximately $73,000. Finally, Golden State Wealth Management LLC boosted its holdings in shares of Boyd Gaming by 76.9% in the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company’s stock valued at $108,000 after buying an additional 711 shares during the last quarter. Institutional investors own 76.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on BYD shares. Stifel Nicolaus increased their price target on Boyd Gaming from $76.00 to $87.00 and gave the company a “hold” rating in a research note on Friday. Morgan Stanley restated a “sell” rating on shares of Boyd Gaming in a research note on Friday. Raymond James Financial increased their price objective on Boyd Gaming from $81.00 to $85.00 and gave the stock an “outperform” rating in a research report on Monday, June 30th. JPMorgan Chase & Co. started coverage on Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price objective on the stock. Finally, Susquehanna cut Boyd Gaming from a “positive” rating to a “neutral” rating and increased their price objective for the stock from $76.00 to $86.00 in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $82.62.

Boyd Gaming Stock Performance

NYSE:BYD opened at $82.38 on Tuesday. The stock’s 50-day simple moving average is $75.98 and its 200 day simple moving average is $72.88. The firm has a market capitalization of $6.71 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 2.87 and a beta of 1.26. The company has a quick ratio of 0.76, a current ratio of 0.80 and a debt-to-equity ratio of 2.57. Boyd Gaming Corporation has a twelve month low of $52.76 and a twelve month high of $87.76.

Boyd Gaming (NYSE:BYD) last released its quarterly earnings data on Thursday, April 24th. The company reported $1.62 earnings per share for the quarter, beating the consensus estimate of $1.52 by $0.10. Boyd Gaming had a return on equity of 38.34% and a net margin of 13.96%. The business had revenue of $991.57 million for the quarter, compared to analyst estimates of $976.38 million. During the same period last year, the firm posted $1.51 earnings per share. Boyd Gaming’s revenue was up 3.2% compared to the same quarter last year. On average, analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, June 16th. Boyd Gaming’s payout ratio is 11.75%.

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.