Bank of New York Mellon Corp Grows Stock Holdings in Boyd Gaming Corporation (NYSE:BYD)

Bank of New York Mellon Corp grew its stake in Boyd Gaming Corporation (NYSE:BYD - Free Report) by 1.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 692,496 shares of the company's stock after acquiring an additional 7,400 shares during the period. Bank of New York Mellon Corp owned 0.84% of Boyd Gaming worth $45,587,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Boston Partners raised its position in Boyd Gaming by 36.9% during the 4th quarter. Boston Partners now owns 3,955,544 shares of the company's stock valued at $287,185,000 after purchasing an additional 1,065,887 shares in the last quarter. Norges Bank purchased a new position in shares of Boyd Gaming during the fourth quarter valued at $55,553,000. Raymond James Financial Inc. bought a new stake in shares of Boyd Gaming in the fourth quarter valued at about $43,273,000. Arrowstreet Capital Limited Partnership lifted its stake in Boyd Gaming by 51.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,296,863 shares of the company's stock worth $94,074,000 after acquiring an additional 441,963 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Boyd Gaming by 37.2% in the fourth quarter. Franklin Resources Inc. now owns 964,051 shares of the company's stock worth $69,932,000 after acquiring an additional 261,443 shares during the period. Institutional investors own 76.81% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on BYD shares. Raymond James Financial boosted their price target on shares of Boyd Gaming from $81.00 to $85.00 and gave the company an "outperform" rating in a report on Monday, June 30th. Truist Financial reduced their price objective on shares of Boyd Gaming from $92.00 to $85.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Stifel Nicolaus increased their target price on Boyd Gaming from $76.00 to $87.00 and gave the company a "hold" rating in a research report on Friday. Mizuho cut their price target on Boyd Gaming from $86.00 to $83.00 and set an "outperform" rating on the stock in a report on Wednesday, April 23rd. Finally, Macquarie restated a "neutral" rating and set a $74.00 price objective on shares of Boyd Gaming in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Boyd Gaming has an average rating of "Hold" and a consensus target price of $82.62.

Boyd Gaming Stock Down 0.4%

NYSE BYD traded down $0.35 during trading on Tuesday, hitting $82.01. The company's stock had a trading volume of 184,771 shares, compared to its average volume of 938,269. Boyd Gaming Corporation has a fifty-two week low of $52.76 and a fifty-two week high of $87.76. The company has a market cap of $6.68 billion, a PE ratio of 13.39, a P/E/G ratio of 2.87 and a beta of 1.26. The company has a debt-to-equity ratio of 2.57, a current ratio of 0.80 and a quick ratio of 0.76. The business's 50 day simple moving average is $75.98 and its 200-day simple moving average is $72.88.

Boyd Gaming (NYSE:BYD - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $976.38 million. Boyd Gaming had a net margin of 13.96% and a return on equity of 38.34%. Boyd Gaming's revenue was up 3.2% on a year-over-year basis. During the same period last year, the firm posted $1.51 EPS. On average, equities analysts anticipate that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.88%. Boyd Gaming's payout ratio is currently 11.75%.

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.