State of New Jersey Common Pension Fund D Has $2.03 Million Stock Holdings in Boyd Gaming Co. (NYSE:BYD)

State of New Jersey Common Pension Fund D lowered its stake in Boyd Gaming Co. (NYSE:BYD) by 14.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,770 shares of the company’s stock after selling 6,030 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Boyd Gaming were worth $2,026,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of BYD. Cohen & Steers Inc. grew its stake in Boyd Gaming by 34.4% in the fourth quarter. Cohen & Steers Inc. now owns 4,747,662 shares of the company’s stock valued at $297,270,000 after purchasing an additional 1,216,121 shares in the last quarter. Norges Bank acquired a new position in Boyd Gaming during the fourth quarter worth $44,773,000. Scout Investments Inc. bought a new stake in Boyd Gaming during the fourth quarter worth $18,091,000. Boston Partners lifted its stake in Boyd Gaming by 10.0% in the first quarter. Boston Partners now owns 3,031,091 shares of the company’s stock valued at $203,276,000 after acquiring an additional 274,876 shares during the last quarter. Finally, Beck Bode LLC bought a new position in shares of Boyd Gaming in the 1st quarter valued at about $15,985,000. Institutional investors own 76.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Stifel Nicolaus lifted their price target on Boyd Gaming from $65.00 to $67.00 and gave the stock a “hold” rating in a report on Friday, July 26th. StockNews.com upgraded Boyd Gaming from a “hold” rating to a “buy” rating in a research note on Monday, July 22nd. Macquarie dropped their price target on Boyd Gaming from $72.00 to $68.00 and set a “neutral” rating on the stock in a research note on Friday, July 26th. Bank of America lifted their price objective on shares of Boyd Gaming from $68.00 to $72.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley raised shares of Boyd Gaming from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $66.00 to $74.00 in a research report on Wednesday, September 4th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $89.31.

Boyd Gaming Stock Performance

Shares of NYSE:BYD opened at $64.03 on Friday. Boyd Gaming Co. has a 12-month low of $49.34 and a 12-month high of $68.46. The company’s 50 day moving average price is $59.00 and its two-hundred day moving average price is $58.46. The firm has a market cap of $6.07 billion, a PE ratio of 11.50, a PEG ratio of 8.56 and a beta of 1.57. The company has a quick ratio of 0.79, a current ratio of 0.83 and a debt-to-equity ratio of 1.70.

Boyd Gaming (NYSE:BYD) last issued its quarterly earnings results on Thursday, July 25th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.49 by $0.09. The business had revenue of $967.50 million for the quarter, compared to the consensus estimate of $909.49 million. Boyd Gaming had a return on equity of 34.29% and a net margin of 13.32%. The firm’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.58 earnings per share. Equities research analysts predict that Boyd Gaming Co. will post 6.25 earnings per share for the current year.

Boyd Gaming Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Sunday, September 15th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.68 annualized dividend and a yield of 1.06%. Boyd Gaming’s dividend payout ratio is 12.21%.

Insiders Place Their Bets

In other news, Director Christine J. Spadafor sold 1,242 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $60.36, for a total transaction of $74,967.12. Following the completion of the sale, the director now owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Chairman Marianne Boyd Johnson sold 73,130 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $60.23, for a total value of $4,404,619.90. Following the sale, the chairman now directly owns 1,423,498 shares of the company’s stock, valued at $85,737,284.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Christine J. Spadafor sold 1,242 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $60.36, for a total value of $74,967.12. Following the transaction, the director now directly owns 1,096 shares of the company’s stock, valued at approximately $66,154.56. The disclosure for this sale can be found here. Corporate insiders own 27.94% of the company’s stock.

Boyd Gaming Company 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.