Charles Schwab Investment Management Inc. Increases Holdings in Boyd Gaming Corporation $BYD

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Boyd Gaming by 0.9%, holding approximately 1.19% of the company's shares valued at $64.8 million.
• Multiple analysts have issued new price targets, with Mizuho raising the target to $89 and Truist Financial to $100, while the consensus rating for Boyd Gaming is currently a "Hold".
• Boyd Gaming recently declared a quarterly dividend of $0.18 per share, set to be paid on October 15, indicating a 0.9% dividend yield and an 11.08% payout ratio.

Charles Schwab Investment Management Inc. increased its stake in shares of Boyd Gaming Corporation (NYSE:BYD - Free Report) by 0.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 983,823 shares of the company's stock after purchasing an additional 8,850 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.19% of Boyd Gaming worth $64,765,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. CoreCap Advisors LLC grew its position in Boyd Gaming by 91.0% in the 4th quarter. CoreCap Advisors LLC now owns 573 shares of the company's stock valued at $42,000 after acquiring an additional 273 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Boyd Gaming by 68.0% during the 1st quarter. GAMMA Investing LLC now owns 773 shares of the company's stock worth $51,000 after purchasing an additional 313 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Boyd Gaming by 156.0% during the 1st quarter. UMB Bank n.a. now owns 1,006 shares of the company's stock worth $66,000 after purchasing an additional 613 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Boyd Gaming by 76.9% during the 1st quarter. Golden State Wealth Management LLC now owns 1,636 shares of the company's stock worth $108,000 after purchasing an additional 711 shares during the last quarter. Finally, Quarry LP lifted its stake in shares of Boyd Gaming by 94.5% during the 4th quarter. Quarry LP now owns 1,698 shares of the company's stock worth $123,000 after purchasing an additional 825 shares during the last quarter. Institutional investors own 76.81% of the company's stock.

Insider Buying and Selling

In related news, Director William R. Boyd sold 9,774 shares of Boyd Gaming stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $81.61, for a total transaction of $797,656.14. Following the transaction, the director owned 15,188 shares in the company, valued at approximately $1,239,492.68. This trade represents a 39.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Marianne Boyd Johnson sold 100,000 shares of Boyd Gaming stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $84.17, for a total value of $8,417,000.00. Following the completion of the sale, the chairman owned 1,504,379 shares in the company, valued at $126,623,580.43. This represents a 6.23% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 145,403 shares of company stock worth $12,174,196. 21.97% of the stock is owned by corporate insiders.

Boyd Gaming Price Performance

BYD traded up $0.8810 during trading on Tuesday, hitting $83.9710. The company's stock had a trading volume of 124,830 shares, compared to its average volume of 1,060,545. The company has a current ratio of 0.86, a quick ratio of 0.82 and a debt-to-equity ratio of 2.53. Boyd Gaming Corporation has a twelve month low of $57.67 and a twelve month high of $87.76. The business's fifty day simple moving average is $80.98 and its 200 day simple moving average is $74.58. The firm has a market capitalization of $6.73 billion, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.34 and a beta of 1.24.

Boyd Gaming (NYSE:BYD - Get Free Report) last released its earnings results on Thursday, July 24th. The company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.20. The business had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $976.81 million. Boyd Gaming had a return on equity of 40.65% and a net margin of 14.02%.The business's quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. On average, equities research analysts forecast that Boyd Gaming Corporation will post 6.52 EPS for the current fiscal year.

Boyd Gaming Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be given a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Monday, September 15th. Boyd Gaming's dividend payout ratio (DPR) is 11.08%.

Analyst Ratings Changes

A number of research firms have commented on BYD. Susquehanna cut Boyd Gaming from a "positive" rating to a "neutral" rating and increased their price target for the company from $76.00 to $86.00 in a research note on Friday, July 11th. Truist Financial increased their price objective on Boyd Gaming from $85.00 to $100.00 and gave the company a "buy" rating in a report on Wednesday, July 16th. Macquarie increased their price objective on Boyd Gaming from $74.00 to $88.00 and gave the company a "neutral" rating in a report on Monday, July 28th. Mizuho increased their price objective on Boyd Gaming from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Barclays raised their target price on Boyd Gaming from $73.00 to $87.00 and gave the stock an "equal weight" rating in a report on Friday, July 18th. Seven research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $86.62.

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.