St. Joe Company (The) $JOE Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC has reduced its stake in St. Joe Company by 4.5%, now holding 634,300 shares worth approximately $29.78 million.
• Major shareholder Bruce R. Berkowitz sold 167,500 shares for over $8.6 million, bringing his total ownership down to around 16.6 million shares.
• The St. Joe Company announced a quarterly dividend of $0.14 per share, which will be paid on September 19th, reflecting a 1.1% yield.

Gabelli Funds LLC decreased its stake in shares of St. Joe Company (The) (NYSE:JOE - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 634,300 shares of the financial services provider's stock after selling 30,100 shares during the period. Gabelli Funds LLC owned about 1.09% of St. Joe worth $29,780,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Lazard Asset Management LLC acquired a new stake in St. Joe during the fourth quarter valued at approximately $38,000. CWM LLC increased its holdings in shares of St. Joe by 472.4% in the 1st quarter. CWM LLC now owns 3,709 shares of the financial services provider's stock valued at $174,000 after acquiring an additional 3,061 shares during the last quarter. Entropy Technologies LP acquired a new stake in shares of St. Joe during the 1st quarter valued at approximately $222,000. Bridgefront Capital LLC acquired a new stake in shares of St. Joe during the 4th quarter valued at approximately $225,000. Finally, Corton Capital Inc. bought a new position in St. Joe during the fourth quarter worth $227,000. 86.67% of the stock is currently owned by institutional investors and hedge funds.

St. Joe Stock Performance

NYSE JOE traded down $0.10 during trading hours on Friday, hitting $50.56. The company had a trading volume of 164,160 shares, compared to its average volume of 229,285. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.81. The firm has a market cap of $2.93 billion, a P/E ratio of 35.61 and a beta of 1.37. St. Joe Company has a fifty-two week low of $40.19 and a fifty-two week high of $62.49. The business has a fifty day simple moving average of $50.06 and a 200-day simple moving average of $46.83.

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

St. Joe Dividend Announcement

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

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other St. Joe news, major shareholder Bruce R. Berkowitz sold 167,500 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $51.44, for a total value of $8,616,200.00. Following the sale, the insider owned 16,634,024 shares in the company, valued at approximately $855,654,194.56. This trade represents a 1.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last ninety days, insiders have sold 486,600 shares of company stock valued at $24,732,417. 0.32% of the stock is currently owned by corporate insiders.

St. Joe Company Profile

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.