St. Joe (NYSE:JOE) Stock Breaks Above 200 Day Moving Average - Here's What Happened

Key Points

• St. Joe shares broke above their 200-day moving average, reaching $69.06 before last trading at $68.3320, compared with a 200-day average of $65.27.
• Weiss Ratings upgraded the stock from “buy (b-)” to “buy (b),” while the broader analyst consensus remains “Buy.”
• The company reported quarterly EPS of $0.71 on $158.86 million in revenue and maintains a quarterly dividend of $0.16, equal to a 0.9% yield; institutional investors own 86.67% of shares.

Shares of St. Joe Company (The) (NYSE:JOE - Get Free Report) passed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $65.27 and traded as high as $69.06. St. Joe shares last traded at $68.3320, with a volume of 117,235 shares.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of St. Joe from a "buy (b-)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. One research analyst has rated the stock with a Buy rating. According to MarketBeat, St. Joe presently has a consensus rating of "Buy".

St. Joe Stock Performance

The company has a market capitalization of $3.89 billion, a P/E ratio of 31.93 and a beta of 1.28. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.84 and a current ratio of 1.84. The business's fifty day simple moving average is $66.42 and its 200-day simple moving average is $65.27.

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

St. Joe Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 21st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend was Friday, August 21st. St. Joe's payout ratio is 29.91%.

Institutional Investors Weigh In On St. Joe

A number of hedge funds have recently made changes to their positions in the company. BlackRock Inc. purchased a new position in St. Joe during the 2nd quarter valued at approximately $385,050,000. Nitor Capital Management LLC bought a new stake in St. Joe in the 2nd quarter worth approximately $32,974,000. Punch & Associates Investment Management Inc. purchased a new stake in shares of St. Joe during the 2nd quarter worth approximately $23,603,000. Principal Financial Group Inc. raised its holdings in shares of St. Joe by 17.0% during the 1st quarter. Principal Financial Group Inc. now owns 222,891 shares of the financial services provider's stock worth $13,998,000 after acquiring an additional 32,457 shares in the last quarter. Finally, Berkley W R Corp purchased a new stake in shares of St. Joe during the 2nd quarter worth approximately $13,124,000. 86.67% of the stock is currently owned by hedge funds and other institutional investors.

About St. Joe

The St. Joe Company NYSE: JOE is a real estate development and asset management company focused primarily on Northwest Florida. The company plans, develops and manages residential, commercial and hospitality properties, with activities concentrated in the communities and coastal markets surrounding Panama City and Destin.

St. Joe's residential business includes the development of master-planned communities and residential neighborhoods, while its commercial activities include office, retail, medical and industrial properties.

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