Argentarii LLC Sells 7,697 Shares of CSX Corporation (NASDAQ:CSX)

Argentarii LLC reduced its stake in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 35.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,077 shares of the transportation company's stock after selling 7,697 shares during the period. Argentarii LLC's holdings in CSX were worth $414,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company's stock valued at $1,339,555,000 after purchasing an additional 726,507 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of CSX by 21.6% in the first quarter. Bank of New York Mellon Corp now owns 28,383,830 shares of the transportation company's stock worth $835,336,000 after purchasing an additional 5,033,743 shares in the last quarter. Invesco Ltd. raised its position in shares of CSX by 13.5% during the 4th quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company's stock valued at $810,076,000 after purchasing an additional 2,977,212 shares during the period. Norges Bank purchased a new position in shares of CSX during the 4th quarter valued at $780,194,000. Finally, Lazard Asset Management LLC boosted its holdings in CSX by 3.5% in the 4th quarter. Lazard Asset Management LLC now owns 21,124,807 shares of the transportation company's stock worth $681,696,000 after buying an additional 707,934 shares during the period. 73.57% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

CSX has been the topic of a number of recent analyst reports. UBS Group decreased their price target on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a report on Thursday, April 17th. Evercore ISI cut their target price on CSX from $35.00 to $33.00 and set an "outperform" rating for the company in a research report on Thursday, April 17th. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price target on shares of CSX in a report on Monday, June 2nd. Bank of America upped their price target on CSX from $33.00 to $35.00 and gave the stock a "neutral" rating in a research note on Friday, June 13th. Finally, Benchmark reiterated a "buy" rating and set a $35.00 price objective on shares of CSX in a research report on Thursday, April 17th. Nine research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $34.14.

CSX Stock Performance

NASDAQ CSX opened at $33.43 on Friday. The company has a market cap of $62.80 billion, a P/E ratio of 20.02, a P/E/G ratio of 2.94 and a beta of 1.23. The business's 50 day moving average price is $31.20 and its 200-day moving average price is $31.06. CSX Corporation has a fifty-two week low of $26.22 and a fifty-two week high of $37.10. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.75 and a current ratio of 0.88.

CSX (NASDAQ:CSX - Get Free Report) last announced its earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a net margin of 22.66% and a return on equity of 26.42%. The firm had revenue of $3.42 billion during the quarter, compared to analysts' expectations of $3.53 billion. Sell-side analysts predict that CSX Corporation will post 1.83 earnings per share for the current year.

CSX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a yield of 1.56%. The ex-dividend date was Friday, May 30th. CSX's payout ratio is currently 31.14%.

CSX Profile

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.

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