St. Joe (NYSE:JOE) Sets New 1-Year High – What’s Next?
by Sarita Garza · The Markets DailyShares of St. Joe Company (The) (NYSE:JOE – Get Free Report) reached a new 52-week high on Thursday . The company traded as high as $63.84 and last traded at $63.5110, with a volume of 45927 shares traded. The stock had previously closed at $61.77.
Wall Street Analyst Weigh In
Several research firms recently weighed in on JOE. Wall Street Zen upgraded St. Joe from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings restated a “buy (b-)” rating on shares of St. Joe in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.
Get Our Latest Analysis on St. Joe
St. Joe Stock Up 0.6%
The company has a debt-to-equity ratio of 0.75, a current ratio of 2.25 and a quick ratio of 2.25. The stock has a 50 day simple moving average of $59.94 and a 200-day simple moving average of $53.49. The firm has a market cap of $3.69 billion, a PE ratio of 35.48 and a beta of 1.32.
St. Joe (NYSE:JOE – Get Free Report) last issued its quarterly earnings results on Wednesday, October 29th. The financial services provider reported $0.67 earnings per share for the quarter. The firm 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 firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Thursday, November 13th were paid a dividend of $0.16 per share. The ex-dividend date was Thursday, November 13th. This represents a $0.64 annualized dividend and a yield of 1.0%. This is a positive change from St. Joe’s previous quarterly dividend of $0.14. St. Joe’s dividend payout ratio (DPR) is 35.56%.
Insider Activity at St. Joe
In other news, major shareholder Bruce R. Berkowitz sold 6,100 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $62.00, for a total value of $378,200.00. Following the completion of the transaction, the insider owned 16,252,724 shares in the company, valued at $1,007,668,888. The trade was a 0.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Over the last three months, insiders sold 71,900 shares of company stock valued at $4,480,854. 0.32% of the stock is currently owned by company insiders.
Institutional Trading of St. Joe
A number of institutional investors have recently made changes to their positions in JOE. Financial Consulate Inc. purchased a new stake in St. Joe in the third quarter worth approximately $31,000. EverSource Wealth Advisors LLC grew its holdings in shares of St. Joe by 155.7% in the second quarter. EverSource Wealth Advisors LLC now owns 652 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 397 shares during the period. Parkside Financial Bank & Trust increased its position in St. Joe by 2,265.5% during the second quarter. Parkside Financial Bank & Trust now owns 686 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 657 shares during the last quarter. Quarry LP bought a new position in St. Joe in the third quarter valued at about $39,000. Finally, Smartleaf Asset Management LLC boosted its position in St. Joe by 31.8% in the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider’s stock worth $48,000 after purchasing an additional 236 shares during the last quarter. Hedge funds and other institutional investors own 86.67% of the company’s stock.
St. Joe Company Profile
The St. Joe Company (NYSE: JOE) is a leading real estate development and asset management firm focused on Northwest Florida. Headquartered in Jacksonville, the company owns and manages approximately 171,000 acres of land across Bay, Gulf, Franklin and Walton counties. St. Joe’s core businesses include residential community development, commercial real estate, and hospitality, with an emphasis on master-planned neighborhoods, office and retail campuses, resort hotels and mixed-use town centers.
Founded in 1936 as a paper manufacturing company, St.