St. Joe (NYSE:JOE) Hits New 52-Week High – Here’s Why

by · The Cerbat Gem

St. Joe Company (The) (NYSE:JOE – Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $62.74 and last traded at $62.2550, with a volume of 19460 shares. The stock had previously closed at $61.35.

Analyst Upgrades and Downgrades

Several research firms have recently commented on JOE. Wall Street Zen upgraded St. Joe from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reissued a “hold (c+)” rating on shares of St. Joe in a report on Monday. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

Check Out Our Latest Research Report on JOE

St. Joe Stock Performance

The company has a quick ratio of 2.25, a current ratio of 2.25 and a debt-to-equity ratio of 0.75. The business has a fifty day moving average of $53.55 and a 200 day moving average of $50.57. The company has a market cap of $3.59 billion, a P/E ratio of 34.57 and a beta of 1.37.

St. Joe (NYSE:JOE – Get Free Report) last announced its quarterly earnings data on Wednesday, October 29th. The financial services provider reported $0.67 EPS for the quarter. The business had revenue of $161.08 million during the quarter. St. Joe had a return on equity of 13.96% and a net margin of 21.40%.

St. Joe Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Thursday, November 13th will be paid a dividend of $0.16 per share. The ex-dividend date is Thursday, November 13th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. This is an increase from St. Joe’s previous quarterly dividend of $0.14. St. Joe’s dividend payout ratio is presently 35.56%.

Insider Activity

In other news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the stock in a transaction on Friday, September 5th. The shares were sold at an average price of $51.08, for a total value of $5,317,428.00. Following the completion of the sale, the insider directly owned 16,324,624 shares of the company’s stock, valued at $833,861,793.92. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 38.80% of the company’s stock.

Hedge Funds Weigh In On St. Joe

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of St. Joe by 3.1% during the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider’s stock worth $294,866,000 after purchasing an additional 179,877 shares during the period. State Street Corp boosted its holdings in St. Joe by 0.7% during the 2nd quarter. State Street Corp now owns 1,396,004 shares of the financial services provider’s stock valued at $66,589,000 after acquiring an additional 9,301 shares during the period. Geode Capital Management LLC lifted its position in shares of St. Joe by 2.5% during the second quarter. Geode Capital Management LLC now owns 957,098 shares of the financial services provider’s stock worth $45,658,000 after purchasing an additional 23,320 shares during the last quarter. Horizon Kinetics Asset Management LLC boosted its stake in shares of St. Joe by 1.0% during the second quarter. Horizon Kinetics Asset Management LLC now owns 555,891 shares of the financial services provider’s stock valued at $26,516,000 after purchasing an additional 5,552 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in St. Joe by 54.7% during the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider’s stock valued at $20,160,000 after buying an additional 144,121 shares in the last quarter. 86.67% of the stock is owned by institutional investors.

St. Joe Company Profile

(Get Free Report)

The St. Joe Company, together with its subsidiaries, operates as a real estate development, asset management, and operating company in Northwest Florida. It operates through three segments: Residential, Hospitality, and Commercial. The Residential segment engages in the development of communities into homesites for sale to homebuilders and on a limited basis to retail customers.

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