Front Street Capital Management Inc. Sells 47,365 Shares of St. Joe Company (The) $JOE

Key Points

• Front Street Capital Management reduced its St. Joe stake by 47,365 shares, or 14.3%, leaving it with 282,984 shares valued at approximately $17.8 million. Institutional investors collectively own 86.67% of the company.
• St. Joe reported quarterly revenue of $158.86 million and earnings of $0.71 per share, while its stock opened at $63.14 and has traded between $46.37 and $73.54 over the past year.
• The company declared a quarterly dividend of $0.16 per share, equivalent to $0.64 annually and a 1.0% yield. Analyst sentiment remains neutral, with a consensus “Hold” rating after Weiss Ratings downgraded the stock.

Front Street Capital Management Inc. trimmed its stake in St. Joe Company (The) (NYSE:JOE - Free Report) by 14.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,984 shares of the financial services provider's stock after selling 47,365 shares during the quarter. St. Joe makes up about 2.3% of Front Street Capital Management Inc.'s portfolio, making the stock its 16th biggest holding. Front Street Capital Management Inc. owned 0.49% of St. Joe worth $17,771,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Camelot Portfolios LLC acquired a new stake in shares of St. Joe in the 4th quarter valued at approximately $30,000. EverSource Wealth Advisors LLC grew its stake 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 valued at $31,000 after buying an additional 397 shares in the last quarter. Kestra Advisory Services LLC acquired a new position in St. Joe during the fourth quarter worth $32,000. Quarry LP acquired a new position in St. Joe during the third quarter worth $39,000. Finally, Smartleaf Asset Management LLC raised its position in St. Joe by 31.8% during the second quarter. Smartleaf Asset Management LLC now owns 977 shares of the financial services provider's stock worth $48,000 after acquiring an additional 236 shares in the last quarter. Institutional investors and hedge funds own 86.67% of the company's stock.

Insiders Place Their Bets

In related news, major shareholder Bruce R. Berkowitz sold 140,400 shares of the business's stock in a transaction on Thursday, June 18th. The stock was sold at an average price of $65.71, for a total value of $9,225,684.00. Following the completion of the sale, the insider directly owned 15,073,624 shares in the company, valued at $990,487,833.04. The trade was a 0.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 1,000,000 shares of company stock worth $65,585,733. Company insiders own 0.35% of the company's stock.

St. Joe Stock Up 2.0%

St. Joe stock opened at $63.14 on Friday. The stock has a market cap of $3.63 billion, a P/E ratio of 29.51 and a beta of 1.29. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.72. St. Joe Company has a twelve month low of $46.37 and a twelve month high of $73.54. The company's 50-day moving average price is $63.17 and its two-hundred day moving average price is $65.70.

St. Joe (NYSE:JOE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter. St. Joe had a return on equity of 15.90% and a net margin of 22.45%.The company had revenue of $158.86 million during the quarter.

St. Joe Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 21st will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, August 21st. St. Joe's dividend payout ratio (DPR) is presently 32.99%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of St. Joe from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, St. Joe presently has a consensus rating of "Hold".

St. Joe 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.

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