Checchi Capital Advisers LLC Has $928,000 Position in CSX Co. (NASDAQ:CSX)

Checchi Capital Advisers LLC cut its position in CSX Co. (NASDAQ:CSX) by 5.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 27,207 shares of the transportation company’s stock after selling 1,553 shares during the quarter. Checchi Capital Advisers LLC’s holdings in CSX were worth $928,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in CSX. Kalos Management Inc. acquired a new stake in CSX in the first quarter valued at $25,000. Albion Financial Group UT acquired a new stake in shares of CSX in the second quarter valued at about $26,000. Fortis Capital Advisors LLC acquired a new stake in shares of CSX in the fourth quarter valued at about $27,000. Barrett & Company Inc. bought a new position in shares of CSX during the first quarter worth about $31,000. Finally, Caldwell Sutter Capital Inc. lifted its stake in shares of CSX by 64.2% in the second quarter. Caldwell Sutter Capital Inc. now owns 921 shares of the transportation company’s stock worth $31,000 after acquiring an additional 360 shares during the period. 72.76% of the stock is owned by institutional investors and hedge funds.

CSX Stock Performance

CSX stock traded up $0.09 during trading on Thursday, hitting $31.08. The stock had a trading volume of 1,312,162 shares, compared to its average volume of 13,072,031. The company has a quick ratio of 1.00, a current ratio of 1.14 and a debt-to-equity ratio of 1.50. The stock’s 50 day moving average is $30.57 and its two-hundred day moving average is $31.58. CSX Co. has a 1 year low of $27.60 and a 1 year high of $34.38. The stock has a market cap of $61.42 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 2.48 and a beta of 1.20.

CSX (NASDAQ:CSX) last released its quarterly earnings data on Thursday, October 19th. The transportation company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $3.57 billion during the quarter, compared to the consensus estimate of $3.55 billion. CSX had a net margin of 26.16% and a return on equity of 31.28%. CSX’s revenue for the quarter was down 8.3% on a year-over-year basis. During the same period last year, the firm earned $0.52 EPS. As a group, analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 1.42%. The ex-dividend date of this dividend is Wednesday, November 29th. CSX’s payout ratio is 23.40%.

Wall Street Analyst Weigh In

A number of analysts have commented on CSX shares. Morgan Stanley reaffirmed an “equal weight” rating and set a $25.00 price target on shares of CSX in a research report on Friday, July 21st. JPMorgan Chase & Co. upgraded CSX from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $37.00 to $40.00 in a report on Wednesday, October 11th. Stephens restated an “overweight” rating and set a $39.00 price target on shares of CSX in a report on Friday, July 21st. Susquehanna reduced their price objective on shares of CSX from $36.00 to $33.00 and set a “neutral” rating for the company in a research report on Tuesday, October 3rd. Finally, Bank of America raised their price target on shares of CSX from $36.00 to $38.00 in a report on Friday, September 29th. Seven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $36.00.

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 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.