Alexander & Baldwin, Inc. (NYSE:ALEX) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC decreased its holdings in shares of Alexander & Baldwin, Inc. (NYSE:ALEX) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,852,782 shares of the financial services provider’s stock after selling 23,559 shares during the quarter. Geode Capital Management LLC’s holdings in Alexander & Baldwin were worth $32,875,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in ALEX. Charles Schwab Investment Management Inc. boosted its position in Alexander & Baldwin by 2.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,013,726 shares of the financial services provider’s stock valued at $35,723,000 after buying an additional 43,333 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Alexander & Baldwin by 51.0% in the 4th quarter. JPMorgan Chase & Co. now owns 880,018 shares of the financial services provider’s stock valued at $15,612,000 after purchasing an additional 297,044 shares during the last quarter. Clearbridge Investments LLC lifted its stake in shares of Alexander & Baldwin by 0.5% in the 4th quarter. Clearbridge Investments LLC now owns 614,940 shares of the financial services provider’s stock worth $10,909,000 after acquiring an additional 3,210 shares during the period. Regency Capital Management Inc. DE lifted its holdings in shares of Alexander & Baldwin by 59.6% in the 4th quarter. Regency Capital Management Inc. DE now owns 430,747 shares of the financial services provider’s stock valued at $7,641,000 after buying an additional 160,928 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Alexander & Baldwin by 2.9% during the 4th quarter. Principal Financial Group Inc. now owns 352,238 shares of the financial services provider’s stock worth $6,249,000 after purchasing an additional 9,901 shares during the period. 91.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on ALEX. Piper Sandler raised their price target on Alexander & Baldwin from $23.00 to $24.00 and gave the company an “overweight” rating in a research report on Friday, February 28th. StockNews.com lowered shares of Alexander & Baldwin from a “buy” rating to a “hold” rating in a research report on Sunday, March 16th. Finally, JMP Securities reissued a “market perform” rating on shares of Alexander & Baldwin in a research report on Monday, January 6th.

Alexander & Baldwin Price Performance

Shares of NYSE ALEX opened at $16.63 on Thursday. The business has a 50 day moving average price of $17.38 and a two-hundred day moving average price of $18.11. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The firm has a market cap of $1.21 billion, a PE ratio of 26.82 and a beta of 1.03. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47.

Alexander & Baldwin (NYSE:ALEX) last posted its quarterly earnings results on Thursday, February 27th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. The business had revenue of $62.45 million for the quarter, compared to analyst estimates of $49.68 million. Alexander & Baldwin had a return on equity of 5.93% and a net margin of 19.64%. Sell-side analysts expect that Alexander & Baldwin, Inc. will post 1.35 earnings per share for the current fiscal year.

Alexander & Baldwin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 5.41%. This is a positive change from Alexander & Baldwin’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, March 14th. Alexander & Baldwin’s payout ratio is presently 107.14%.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc engages in the real estate business. It operates through the Commercial Real Estate and Land Operations segments. The Commercial Real Estate segment includes investments and acquisitions, construction and development, and in-house leasing and property management. The Land Operations segment consists of legacy landholdings, assets, and liabilities subject to the company’s simplification and monetization effort.