RFG Advisory LLC Sells 2,498 Shares of CSX Co. (NASDAQ:CSX)

RFG Advisory LLC lessened its stake in CSX Co. (NASDAQ:CSX) by 11.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,710 shares of the transportation company’s stock after selling 2,498 shares during the quarter. RFG Advisory LLC’s holdings in CSX were worth $649,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Soroban Capital Partners LP grew its holdings in shares of CSX by 0.8% in the 4th quarter. Soroban Capital Partners LP now owns 58,100,864 shares of the transportation company’s stock valued at $1,799,965,000 after buying an additional 470,000 shares during the period. Geode Capital Management LLC lifted its holdings in CSX by 1.8% during the first quarter. Geode Capital Management LLC now owns 39,236,265 shares of the transportation company’s stock worth $1,172,727,000 after acquiring an additional 690,267 shares in the last quarter. Lazard Asset Management LLC grew its stake in CSX by 10.4% in the third quarter. Lazard Asset Management LLC now owns 29,191,044 shares of the transportation company’s stock valued at $897,624,000 after acquiring an additional 2,748,738 shares during the period. Morgan Stanley increased its holdings in shares of CSX by 3.1% in the third quarter. Morgan Stanley now owns 24,340,514 shares of the transportation company’s stock worth $748,471,000 after acquiring an additional 739,411 shares in the last quarter. Finally, Moneta Group Investment Advisors LLC raised its position in shares of CSX by 101,926.4% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 23,323,241 shares of the transportation company’s stock worth $722,554,000 after purchasing an additional 23,300,381 shares during the period. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analyst Upgrades and Downgrades

CSX has been the subject of several research analyst reports. StockNews.com lowered CSX from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Susquehanna increased their price objective on shares of CSX from $42.00 to $44.00 and gave the stock a “positive” rating in a research report on Thursday, March 28th. TD Cowen boosted their price objective on shares of CSX from $32.00 to $36.00 and gave the company a “market perform” rating in a research report on Thursday, January 25th. BMO Capital Markets upped their target price on shares of CSX from $37.00 to $38.00 and gave the stock an “outperform” rating in a research note on Thursday, January 25th. Finally, Jefferies Financial Group began coverage on CSX in a research note on Monday. They issued a “hold” rating and a $40.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, CSX currently has an average rating of “Moderate Buy” and an average target price of $37.17.

CSX Stock Up 0.1 %

NASDAQ CSX opened at $35.43 on Friday. The company has a current ratio of 1.05, a quick ratio of 0.91 and a debt-to-equity ratio of 1.48. The company has a market cap of $69.36 billion, a price-to-earnings ratio of 19.26, a PEG ratio of 2.09 and a beta of 1.18. The company has a 50 day moving average of $37.14 and a 200-day moving average of $34.18. CSX Co. has a 1-year low of $29.03 and a 1-year high of $40.12.

CSX (NASDAQ:CSX) last released its earnings results on Tuesday, January 23rd. The transportation company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.63 billion. CSX had a return on equity of 30.52% and a net margin of 25.35%. CSX’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.49 EPS. On average, equities research analysts expect that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Thursday, February 29th were given a $0.12 dividend. The ex-dividend date was Wednesday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.11. This represents a $0.48 annualized dividend and a dividend yield of 1.35%. CSX’s payout ratio is presently 26.09%.

About CSX

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.