JPMorgan Chase & Co. Increases Stock Position in Alexander & Baldwin, Inc. (NYSE:ALEX)

JPMorgan Chase & Co. raised its holdings in Alexander & Baldwin, Inc. (NYSE:ALEX - Free Report) by 31.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 582,974 shares of the financial services provider's stock after buying an additional 140,207 shares during the period. JPMorgan Chase & Co. owned about 0.80% of Alexander & Baldwin worth $11,193,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ALEX. Jane Street Group LLC lifted its stake in Alexander & Baldwin by 61.2% during the third quarter. Jane Street Group LLC now owns 94,616 shares of the financial services provider's stock worth $1,817,000 after purchasing an additional 35,916 shares during the last quarter. HighTower Advisors LLC acquired a new position in shares of Alexander & Baldwin in the 3rd quarter valued at $1,151,000. Victory Capital Management Inc. boosted its holdings in shares of Alexander & Baldwin by 3.1% in the 3rd quarter. Victory Capital Management Inc. now owns 965,435 shares of the financial services provider's stock valued at $18,536,000 after buying an additional 29,006 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Alexander & Baldwin by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,876,341 shares of the financial services provider's stock valued at $36,032,000 after buying an additional 23,441 shares during the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in Alexander & Baldwin by 101.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 221,692 shares of the financial services provider's stock worth $4,256,000 after acquiring an additional 111,392 shares in the last quarter. 91.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com upgraded shares of Alexander & Baldwin from a "hold" rating to a "buy" rating in a research note on Monday, November 25th. Piper Sandler reaffirmed an "overweight" rating and set a $23.00 price target (up previously from $22.00) on shares of Alexander & Baldwin in a research report on Friday, October 25th. Finally, JMP Securities reiterated a "market perform" rating on shares of Alexander & Baldwin in a research note on Monday, January 6th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $22.50.

Alexander & Baldwin Stock Performance

NYSE ALEX opened at $16.96 on Monday. The firm has a market cap of $1.23 billion, a P/E ratio of 27.36 and a beta of 1.29. Alexander & Baldwin, Inc. has a 52-week low of $15.53 and a 52-week high of $20.30. The business's 50-day moving average price is $18.72 and its 200 day moving average price is $18.73. 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 Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Friday, December 20th were given a $0.2225 dividend. The ex-dividend date of this dividend was Friday, December 20th. This represents a $0.89 dividend on an annualized basis and a yield of 5.25%. Alexander & Baldwin's dividend payout ratio (DPR) is 145.16%.

About Alexander & Baldwin

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.