Teacher Retirement System of Texas Increases Holdings in Boyd Gaming Corporation (NYSE:BYD)

Teacher Retirement System of Texas increased its position in shares of Boyd Gaming Corporation (NYSE:BYD) by 85.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,453 shares of the company’s stock after purchasing an additional 4,804 shares during the quarter. Teacher Retirement System of Texas’ holdings in Boyd Gaming were worth $688,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of BYD. Proficio Capital Partners LLC acquired a new stake in Boyd Gaming during the 4th quarter worth about $3,847,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Boyd Gaming by 6.8% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,986 shares of the company’s stock valued at $1,232,000 after buying an additional 1,075 shares during the period. Avantax Advisory Services Inc. purchased a new stake in shares of Boyd Gaming in the fourth quarter worth about $205,000. GWN Securities Inc. acquired a new stake in Boyd Gaming during the fourth quarter worth about $234,000. Finally, Boston Partners grew its holdings in Boyd Gaming by 36.9% during the fourth quarter. Boston Partners now owns 3,955,544 shares of the company’s stock worth $287,185,000 after acquiring an additional 1,065,887 shares during the period. Hedge funds and other institutional investors own 76.81% of the company’s stock.

Boyd Gaming Trading Down 0.9%

Shares of Boyd Gaming stock opened at $81.62 on Wednesday. The company has a current ratio of 0.80, a quick ratio of 0.76 and a debt-to-equity ratio of 2.57. The firm’s 50-day moving average price is $76.48 and its 200 day moving average price is $73.01. The firm has a market capitalization of $6.64 billion, a PE ratio of 13.32, a P/E/G ratio of 2.95 and a beta of 1.26. Boyd Gaming Corporation has a twelve month low of $52.76 and a twelve month high of $87.76.

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

Boyd Gaming Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th were issued a dividend of $0.18 per share. The ex-dividend date was Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. Boyd Gaming’s dividend payout ratio is presently 11.75%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on BYD. Macquarie reissued a “neutral” rating and issued a $74.00 price target on shares of Boyd Gaming in a report on Friday, April 25th. Raymond James Financial boosted their target price on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an “outperform” rating in a research note on Monday, June 30th. Truist Financial lowered their price target on shares of Boyd Gaming from $92.00 to $85.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Stifel Nicolaus raised their price target on shares of Boyd Gaming from $76.00 to $87.00 and gave the company a “hold” rating in a research report on Friday, July 11th. Finally, JPMorgan Chase & Co. started coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They issued a “neutral” rating and a $79.00 price objective for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Boyd Gaming has a consensus rating of “Hold” and a consensus target price of $82.62.

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.