Sequoia Financial Advisors LLC Decreases Position in Boyd Gaming Corporation (NYSE:BYD)

Sequoia Financial Advisors LLC lessened its holdings in Boyd Gaming Corporation (NYSE:BYD) by 10.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,012 shares of the company’s stock after selling 8,614 shares during the quarter. Sequoia Financial Advisors LLC owned 0.09% of Boyd Gaming worth $4,938,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on BYD shares. Susquehanna boosted their price objective on shares of Boyd Gaming from $75.00 to $76.00 and gave the company a “positive” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. assumed coverage on shares of Boyd Gaming in a research report on Monday, June 23rd. They set a “neutral” rating and a $79.00 price target on the stock. Macquarie reiterated a “neutral” rating and set a $74.00 price target on shares of Boyd Gaming in a research report on Friday, April 25th. Mizuho reduced their price target on shares of Boyd Gaming from $86.00 to $83.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 23rd. Finally, Morgan Stanley reduced their price target on shares of Boyd Gaming from $75.00 to $72.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Boyd Gaming Trading Up 1.6%

NYSE:BYD opened at $78.99 on Friday. Boyd Gaming Corporation has a one year low of $52.76 and a one year high of $80.50. 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 company’s 50-day simple moving average is $73.27 and its 200 day simple moving average is $72.27. The firm has a market capitalization of $6.43 billion, a P/E ratio of 12.89, a PEG ratio of 0.99 and a beta of 1.26.

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

Boyd Gaming Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 16th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.72 annualized dividend and a dividend yield of 0.91%. Boyd Gaming’s dividend payout ratio is presently 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.