Charles Schwab Investment Management Inc. Acquires 190,357 Shares of Alexander & Baldwin, Inc. (NYSE:ALEX)

Charles Schwab Investment Management Inc. increased its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 10.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,970,393 shares of the financial services provider's stock after purchasing an additional 190,357 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.71% of Alexander & Baldwin worth $37,832,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC grew its stake in shares of Alexander & Baldwin by 103.3% during the third quarter. GAMMA Investing LLC now owns 1,494 shares of the financial services provider's stock valued at $29,000 after purchasing an additional 759 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Alexander & Baldwin during the second quarter valued at approximately $35,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Alexander & Baldwin by 34.8% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,818 shares of the financial services provider's stock valued at $54,000 after acquiring an additional 727 shares during the last quarter. KBC Group NV boosted its stake in Alexander & Baldwin by 53.6% in the third quarter. KBC Group NV now owns 3,835 shares of the financial services provider's stock valued at $74,000 after acquiring an additional 1,338 shares during the last quarter. Finally, Quarry LP boosted its stake in Alexander & Baldwin by 577.4% in the second quarter. Quarry LP now owns 5,047 shares of the financial services provider's stock valued at $86,000 after acquiring an additional 4,302 shares during the last quarter. Institutional investors and hedge funds own 91.29% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Alliance Global Partners assumed coverage on shares of Alexander & Baldwin in a research note on Thursday, August 8th. They issued a "buy" rating and a $22.00 price objective on the stock. StockNews.com raised shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research note on Monday, November 25th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $23.00 target price (up from $22.00) on shares of Alexander & Baldwin in a report on Friday, October 25th. Four investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $21.67.

Alexander & Baldwin Stock Down 1.5 %

Shares of NYSE:ALEX traded down $0.30 during midday trading on Tuesday, reaching $19.31. 290,806 shares of the company were exchanged, compared to its average volume of 286,608. Alexander & Baldwin, Inc. has a fifty-two week low of $15.53 and a fifty-two week high of $20.30. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.47. The stock has a fifty day simple moving average of $19.07 and a two-hundred day simple moving average of $18.41. The firm has a market cap of $1.40 billion, a PE ratio of 31.14 and a beta of 1.27.

Alexander & Baldwin Profile

Alexander & Baldwin, Inc NYSE: ALEX (A&B) is the only publicly-traded real estate investment trust to focus exclusively on Hawai'i commercial real estate and is the state's largest owner of grocery-anchored, neighborhood shopping centers. A&B owns, operates and manages approximately 3.9 million square feet of commercial space in Hawai'i, including 22 retail centers, 13 industrial assets and four office properties, as well as 142.0 acres of ground lease assets.