CSX Co. (NASDAQ:CSX) Shares Sold by Soros Fund Management LLC

Soros Fund Management LLC reduced its stake in shares of CSX Co. (NASDAQ:CSX) by 23.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 706,000 shares of the transportation company’s stock after selling 222,118 shares during the period. Soros Fund Management LLC’s holdings in CSX were worth $22,783,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Wellington Management Group LLP boosted its holdings 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. Diversified Trust Co lifted its position in CSX by 180.7% in the 4th quarter. Diversified Trust Co now owns 72,197 shares of the transportation company’s stock valued at $2,330,000 after purchasing an additional 46,473 shares during the last quarter. Marshall Financial Group LLC bought a new stake in CSX in the 4th quarter valued at about $1,084,000. Carnegie Investment Counsel lifted its position in CSX by 1.4% in the 4th quarter. Carnegie Investment Counsel now owns 612,051 shares of the transportation company’s stock valued at $19,751,000 after purchasing an additional 8,474 shares during the last quarter. Finally, Waycross Partners LLC lifted its position in 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 purchasing an additional 40,611 shares during the last quarter. 73.57% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their price objective on shares of CSX from $38.00 to $37.00 and set an “overweight” rating on the stock in a research report on Friday, January 24th. Barclays cut their price objective on shares of CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. Loop Capital downgraded shares of CSX from a “buy” rating to a “hold” rating and dropped their price target for the stock from $40.00 to $34.00 in a research report on Monday, February 3rd. Citigroup dropped their price target on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Robert W. Baird dropped their price target on shares of CSX from $39.00 to $38.00 and set an “outperform” rating on the stock in a research report on Friday, January 24th. Seven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, CSX currently has a consensus rating of “Moderate Buy” and an average target price of $33.86.

CSX Price Performance

CSX opened at $27.87 on Tuesday. The company has a quick ratio of 1.23, a current ratio of 0.86 and a debt-to-equity ratio of 1.43. CSX Co. has a 12-month low of $26.22 and a 12-month high of $37.10. The stock has a fifty day moving average of $29.43 and a 200-day moving average of $32.21. The firm has a market capitalization of $52.36 billion, a P/E ratio of 15.57, a PEG ratio of 1.92 and a beta of 1.23.

CSX (NASDAQ:CSX) last announced its quarterly earnings data on Wednesday, April 16th. The transportation company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.05). The firm had revenue of $3.42 billion for the quarter, compared to analysts’ expectations of $3.53 billion. CSX had a return on equity of 28.15% and a net margin of 23.95%. Equities analysts forecast that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were given a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.87%. This is an increase from CSX’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Friday, February 28th. CSX’s dividend payout ratio is presently 31.14%.

CSX 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.