Front Street Capital Management Inc. Has $16.76 Million Stock Holdings in St. Joe Company (The) $JOE

Key Points

• Front Street Capital Management Inc. has reduced its stake in St. Joe Company (NYSE: JOE) by 16.1%, now holding 357,053 shares valued at $16.76 million, making it the 11th largest position in their portfolio.
• Several institutional investors, including CWM LLC, significantly increased their holdings in St. Joe, with CWM LLC's position growing by 472.4% in the first quarter.
• St. Joe Company is set to distribute a quarterly dividend of $0.14 per share on September 19th, with a current yield of 1.1%.

Front Street Capital Management Inc. cut its holdings in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 16.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 357,053 shares of the financial services provider's stock after selling 68,556 shares during the period. St. Joe comprises approximately 3.2% of Front Street Capital Management Inc.'s investment portfolio, making the stock its 11th biggest position. Front Street Capital Management Inc. owned 0.61% of St. Joe worth $16,764,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC bought a new stake in St. Joe during the first quarter worth $263,000. SG Americas Securities LLC bought a new stake in St. Joe during the first quarter worth $475,000. Lazard Asset Management LLC bought a new stake in St. Joe during the fourth quarter worth $38,000. Millennium Management LLC lifted its stake in St. Joe by 2,785.5% during the fourth quarter. Millennium Management LLC now owns 209,917 shares of the financial services provider's stock worth $9,432,000 after purchasing an additional 202,642 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in St. Joe by 4.0% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 20,508 shares of the financial services provider's stock worth $921,000 after purchasing an additional 782 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut St. Joe from a "buy" rating to a "hold" rating in a research note on Sunday, June 8th.

St. Joe Price Performance

Shares of JOE traded down $0.62 during trading hours on Friday, reaching $51.98. The stock had a trading volume of 41,327 shares, compared to its average volume of 249,529. St. Joe Company has a 12 month low of $40.19 and a 12 month high of $62.49. The stock has a market capitalization of $3.01 billion, a PE ratio of 36.62 and a beta of 1.35. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.45 and a current ratio of 1.45. The company's 50-day moving average is $50.48 and its two-hundred day moving average is $47.05.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 23rd. The financial services provider reported $0.51 EPS for the quarter. St. Joe had a return on equity of 11.19% and a net margin of 19.39%.The company had revenue of $129.10 million during the quarter.

St. Joe Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, August 22nd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $0.56 annualized dividend and a dividend yield of 1.1%. St. Joe's dividend payout ratio is presently 39.44%.

Insider Buying and Selling at St. Joe

In other news, major shareholder Bruce R. Berkowitz sold 104,100 shares of the stock in a transaction dated Friday, September 5th. The stock was 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 owned 16,324,624 shares of the company's stock, valued at approximately $833,861,793.92. This represents a 0.63% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders sold a total of 616,000 shares of company stock valued at $31,340,145 over the last ninety days. Corporate insiders own 0.32% of the company's stock.

About St. Joe

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.