Stock Yards Bank & Trust Co. cut its stake in CSX Co. (NASDAQ:CSX - Free Report) by 18.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 45,158 shares of the transportation company's stock after selling 10,433 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in CSX were worth $1,329,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wellington Management Group LLP boosted its stake in shares of CSX by 14.7% in the 4th quarter. Wellington Management Group LLP now owns 117,579 shares of the transportation company's stock valued at $3,794,000 after buying an additional 15,029 shares during the period. Waycross Partners LLC boosted its stake in shares of CSX by 7.0% in the 4th quarter. Waycross Partners LLC now owns 619,471 shares of the transportation company's stock valued at $19,990,000 after buying an additional 40,611 shares during the period. Cercano Management LLC purchased a new position in shares of CSX in the 4th quarter valued at about $4,869,000. Geode Capital Management LLC lifted its stake 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 worth $1,339,555,000 after purchasing an additional 726,507 shares during the last quarter. Finally, Principal Securities Inc. lifted its stake in CSX by 6.4% during the fourth quarter. Principal Securities Inc. now owns 26,933 shares of the transportation company's stock worth $869,000 after purchasing an additional 1,614 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have commented on the company. Stifel Nicolaus cut their price target on CSX from $37.00 to $34.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Benchmark reaffirmed a "buy" rating and set a $35.00 price target on shares of CSX in a research report on Thursday, April 17th. UBS Group cut their price target on CSX from $36.00 to $34.00 and set a "buy" rating on the stock in a research report on Thursday, April 17th. Raymond James reissued an "outperform" rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a report on Thursday, April 17th. Finally, Evercore ISI dropped their target price on CSX from $35.00 to $33.00 and set an "outperform" rating on the stock in a report on Thursday, April 17th. Eight investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $34.14.
Read Our Latest Analysis on CSX
CSX Price Performance
CSX stock traded down $0.27 during trading hours on Friday, hitting $32.12. The stock had a trading volume of 9,032,692 shares, compared to its average volume of 13,250,493. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.86 and a quick ratio of 1.23. The stock has a market capitalization of $60.34 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.92 and a beta of 1.24. CSX Co. has a 1-year low of $26.22 and a 1-year high of $37.10. The stock's fifty day moving average is $29.73 and its two-hundred day moving average is $31.24.
CSX (NASDAQ:CSX - Get Free Report) last posted 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 23.95% and a return on equity of 28.15%. The firm had revenue of $3.42 billion during the quarter, compared to analyst estimates of $3.53 billion. As a group, analysts predict that CSX Co. will post 1.83 earnings per share for the current fiscal year.
CSX Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 13th. Stockholders of record on Friday, May 30th were issued a $0.13 dividend. The ex-dividend date was Friday, May 30th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 1.62%. CSX's dividend payout ratio (DPR) is 31.14%.
About CSX
(
Free Report)
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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