AQR Capital Management LLC Sells 525,257 Shares of CSX Corporation $CSX

Key Points

• AQR Capital Management LLC has reduced its stake in CSX Corporation by 47.8%, selling 525,257 shares and now holding a total of 574,527 shares worth approximately $16.8 million.
• Analysts have varied ratings for CSX, with one analyst giving a Strong Buy rating and several others assigning a price target range between $35.00 and $44.00, while the company has an average rating of "Moderate Buy."
• CSX recently announced a quarterly dividend of $0.13, resulting in an annualized dividend of $0.52 and a yield of 1.6%.

AQR Capital Management LLC lowered its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 47.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 574,527 shares of the transportation company's stock after selling 525,257 shares during the quarter. AQR Capital Management LLC's holdings in CSX were worth $16,845,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in CSX during the fourth quarter worth approximately $29,000. Barnes Dennig Private Wealth Management LLC acquired a new stake in shares of CSX in the 1st quarter valued at $30,000. Rossby Financial LCC acquired a new stake in shares of CSX in the 1st quarter valued at $28,000. Kessler Investment Group LLC acquired a new stake in shares of CSX in the 1st quarter valued at $32,000. Finally, Putney Financial Group LLC acquired a new stake in shares of CSX in the 4th quarter valued at $44,000. Institutional investors and hedge funds own 73.57% of the company's stock.

CSX Trading Down 1.2%

NASDAQ:CSX traded down $0.38 during trading hours on Friday, hitting $32.47. 9,253,621 shares of the company were exchanged, compared to its average volume of 21,929,234. The stock has a market capitalization of $60.53 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 2.45 and a beta of 1.25. The company has a current ratio of 0.77, a quick ratio of 0.63 and a debt-to-equity ratio of 1.50. CSX Corporation has a one year low of $26.22 and a one year high of $37.25. The company has a fifty day simple moving average of $34.26 and a 200 day simple moving average of $31.64.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, July 23rd. The transportation company reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.02. The business had revenue of $3.57 billion during the quarter, compared to analyst estimates of $3.57 billion. CSX had a return on equity of 25.48% and a net margin of 21.92%.CSX's revenue for the quarter was down 3.5% compared to the same quarter last year. During the same period last year, the company earned $0.49 EPS. Sell-side analysts expect that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Friday, August 29th will be given a $0.13 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.52 annualized dividend and a dividend yield of 1.6%. CSX's dividend payout ratio (DPR) is 32.10%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on CSX shares. TD Cowen raised CSX from a "hold" rating to a "buy" rating and raised their target price for the company from $32.00 to $45.00 in a report on Monday, July 21st. Benchmark raised their target price on CSX from $37.00 to $40.00 and gave the company a "buy" rating in a report on Thursday, July 24th. JPMorgan Chase & Co. raised their target price on CSX from $34.00 to $41.00 and gave the company an "overweight" rating in a report on Thursday, July 24th. Robert W. Baird raised their target price on CSX from $38.00 to $44.00 and gave the company an "outperform" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company increased their price target on CSX from $35.00 to $37.00 and gave the company an "equal weight" rating in a research note on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, CSX presently has an average rating of "Moderate Buy" and an average price target of $37.00.

About CSX

CSX Corporation, together with its subsidiaries, provides rail-based freight transportation services. The company offers rail services; and transportation of intermodal containers and trailers, as well as other transportation services, such as rail-to-truck transfers and bulk commodity operations. It also transports chemicals, agricultural and food products, minerals, automotive, forest products, fertilizers, and metals and equipment; and coal, coke, and iron ore to electricity-generating power plants, steel manufacturers, and industrial plants, as well as exports coal to deep-water port facilities.