Tributary Capital Management LLC decreased its stake in CSX Corporation (NASDAQ:CSX - Free Report) by 59.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,700 shares of the transportation company's stock after selling 12,500 shares during the period. Tributary Capital Management LLC's holdings in CSX were worth $256,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of CSX. Marshall & Sterling Wealth Advisors Inc. acquired a new stake in CSX during the fourth quarter worth approximately $27,000. Rossby Financial LCC acquired a new stake in shares of CSX in the first quarter valued at approximately $28,000. Accredited Wealth Management LLC bought a new position in CSX in the fourth quarter valued at approximately $29,000. Fourth Dimension Wealth LLC bought a new position in CSX in the fourth quarter valued at approximately $29,000. Finally, Barnes Dennig Private Wealth Management LLC bought a new position in CSX in the first quarter valued at approximately $30,000. Institutional investors own 73.57% of the company's stock.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CSX. Susquehanna reissued a "neutral" rating and issued a $35.00 price objective on shares of CSX in a research note on Tuesday, June 24th. Baird R W upgraded shares of CSX to a "strong-buy" rating in a report on Tuesday, July 1st. Stifel Nicolaus decreased their price objective on shares of CSX from $37.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Sanford C. Bernstein reaffirmed a "market perform" rating and issued a $36.00 price objective (up from $33.00) on shares of CSX in a report on Tuesday, July 8th. Finally, Citigroup lifted their price objective on shares of CSX from $36.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, July 9th. Eight analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, CSX has an average rating of "Moderate Buy" and an average price target of $35.14.
View Our Latest Stock Report on CSX
CSX Price Performance
Shares of NASDAQ CSX traded down $0.11 during trading on Friday, hitting $34.39. 24,854,035 shares of the company were exchanged, compared to its average volume of 13,551,630. The company has a market cap of $64.60 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 3.09 and a beta of 1.23. CSX Corporation has a 1 year low of $26.22 and a 1 year high of $37.10. The firm's fifty day moving average price is $32.27 and its 200 day moving average price is $31.16. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.88 and a quick ratio of 0.75.
CSX (NASDAQ:CSX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 EPS 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 during the quarter, compared to analysts' expectations of $3.53 billion. On average, sell-side analysts expect that CSX Corporation will post 1.83 earnings per share for the current fiscal year.
CSX Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Friday, August 29th will be issued a $0.13 dividend. This represents a $0.52 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date is Friday, August 29th. CSX's dividend payout ratio is presently 31.14%.
CSX Company Profile
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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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