Axxcess Wealth Management LLC Sells 172,203 Shares of CSX Corporation (NASDAQ:CSX)

Axxcess Wealth Management LLC decreased its position in shares of CSX Corporation (NASDAQ:CSX - Free Report) by 63.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 98,700 shares of the transportation company's stock after selling 172,203 shares during the period. Axxcess Wealth Management LLC's holdings in CSX were worth $2,905,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC increased its holdings in shares of CSX by 5.5% in the 4th quarter. Brighton Jones LLC now owns 16,254 shares of the transportation company's stock worth $525,000 after buying an additional 849 shares during the last quarter. SBI Securities Co. Ltd. purchased a new stake in CSX in the 4th quarter valued at about $31,000. Proficio Capital Partners LLC boosted its position in CSX by 20.9% in the 4th quarter. Proficio Capital Partners LLC now owns 18,257 shares of the transportation company's stock valued at $589,000 after buying an additional 3,159 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in CSX by 1.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 812,683 shares of the transportation company's stock valued at $26,225,000 after buying an additional 11,331 shares during the period. Finally, Sage Mountain Advisors LLC boosted its position in CSX by 52.2% in the 4th quarter. Sage Mountain Advisors LLC now owns 10,466 shares of the transportation company's stock valued at $338,000 after buying an additional 3,590 shares during the period. Institutional investors own 73.57% of the company's stock.

Analyst Upgrades and Downgrades

CSX has been the subject of several research reports. The Goldman Sachs Group reissued a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research report on Monday, June 2nd. Raymond James Financial reissued an "outperform" rating and set a $33.00 target price (down previously from $34.00) on shares of CSX in a research report on Thursday, April 17th. Benchmark reaffirmed a "buy" rating and issued a $35.00 price target on shares of CSX in a report on Thursday, April 17th. Barclays increased their price objective on shares of CSX from $31.00 to $36.00 and gave the stock an "overweight" rating in a research note on Thursday. Finally, Evercore ISI dropped their price target on shares of CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a research report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $34.64.

CSX Stock Up 0.6%

Shares of NASDAQ CSX traded up $0.21 during trading on Thursday, reaching $33.54. 9,782,513 shares of the stock were exchanged, compared to its average volume of 13,307,618. The business's 50-day moving average price is $31.51 and its 200 day moving average price is $31.09. CSX Corporation has a twelve month low of $26.22 and a twelve month high of $37.10. The company has a quick ratio of 0.75, a current ratio of 0.88 and a debt-to-equity ratio of 1.52. The company has a market capitalization of $63.01 billion, a price-to-earnings ratio of 20.08, a price-to-earnings-growth ratio of 2.93 and a beta of 1.23.

CSX (NASDAQ:CSX - Get Free Report) last released 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 business had revenue of $3.42 billion for the quarter, compared to the consensus estimate of $3.53 billion. As a group, equities analysts forecast that CSX Corporation will post 1.83 EPS for the current fiscal year.

CSX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were given a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Friday, May 30th. CSX's dividend payout ratio (DPR) is 31.14%.

CSX Company 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.