St. Joe (NYSE:JOE) Trading Down 7.3% - Here's What Happened

Key Points

• Shares fell 7.3%, trading down to about $64.01 (intraday low $63.87) with just 28,293 shares changing hands—an 87% drop versus the average session volume—after a prior close of $69.03.
• Wall Street Zen downgraded St. Joe from a "buy" to a "hold," although the stock's consensus rating on MarketBeat remains a "Buy."
• The company reported quarterly EPS of $0.24 on $99.04 million in revenue and announced a quarterly dividend of $0.16 per share (annualized $0.64, ~1.0% yield; ex-dividend June 9).

St. Joe Company (The) (NYSE:JOE - Get Free Report)'s share price fell 7.3% on Thursday . The company traded as low as $63.87 and last traded at $64.01. 28,293 shares were traded during mid-day trading, a decline of 87% from the average session volume of 214,355 shares. The stock had previously closed at $69.03.

Analyst Ratings Changes

Separately, Wall Street Zen cut shares of St. Joe from a "buy" rating to a "hold" rating in a research note on Saturday, February 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat.com, St. Joe currently has an average rating of "Buy".

St. Joe Price Performance

The stock's 50-day moving average is $67.97 and its 200-day moving average is $63.06. The firm has a market cap of $3.70 billion, a P/E ratio of 32.16 and a beta of 1.39. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 0.73.

St. Joe (NYSE:JOE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 29th. The financial services provider reported $0.24 earnings per share (EPS) for the quarter. The firm had revenue of $99.04 million for the quarter. St. Joe had a net margin of 22.52% and a return on equity of 15.23%.

St. Joe Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 25th. Investors of record on Tuesday, June 9th will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, June 9th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.0%. St. Joe's dividend payout ratio (DPR) is 32.00%.

Insider Buying and Selling

In related news, major shareholder Bruce R. Berkowitz sold 21,100 shares of the company's stock in a transaction dated Tuesday, March 17th. The shares were sold at an average price of $72.22, for a total transaction of $1,523,842.00. Following the transaction, the insider owned 16,073,624 shares in the company, valued at $1,160,837,125.28. This represents a 0.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 77,500 shares of company stock valued at $5,588,638 in the last quarter. 0.35% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Nitor Capital Management LLC bought a new stake in St. Joe during the 4th quarter worth approximately $31,789,000. Vanguard Group Inc. boosted its holdings in shares of St. Joe by 3.1% in the 3rd quarter. Vanguard Group Inc. now owns 5,959,298 shares of the financial services provider's stock valued at $294,866,000 after buying an additional 179,877 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of St. Joe by 54.7% in the 3rd quarter. Victory Capital Management Inc. now owns 407,438 shares of the financial services provider's stock valued at $20,160,000 after buying an additional 144,121 shares during the last quarter. Select Equity Group L.P. acquired a new stake in shares of St. Joe in the 2nd quarter valued at approximately $6,347,000. Finally, Janus Henderson Group PLC boosted its holdings in shares of St. Joe by 668.3% in the 4th quarter. Janus Henderson Group PLC now owns 139,947 shares of the financial services provider's stock valued at $8,310,000 after buying an additional 121,733 shares during the last quarter. 86.67% of the stock is currently owned by institutional investors and hedge funds.

About St. Joe

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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