Stock Yards Bank & Trust Co. Lowers Position in CSX Co. (NASDAQ:CSX)

Stock Yards Bank & Trust Co. lessened its stake in CSX Co. (NASDAQ:CSX) by 18.8% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor 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 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. Marshall & Sterling Wealth Advisors Inc. purchased a new stake in CSX during the fourth quarter valued at $27,000. Accredited Wealth Management LLC purchased a new stake in CSX during the fourth quarter valued at $29,000. Fourth Dimension Wealth LLC purchased a new stake in CSX during the fourth quarter valued at $29,000. SBI Securities Co. Ltd. purchased a new stake in CSX during the fourth quarter valued at $31,000. Finally, Sierra Ocean LLC purchased a new stake in CSX during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Trading Down 0.8%

NASDAQ CSX opened at $32.12 on Friday. The company’s 50-day moving average price is $29.73 and its 200-day moving average price is $31.24. The company has a current ratio of 0.86, a quick ratio of 1.23 and a debt-to-equity ratio of 1.43. The stock has a market cap of $60.34 billion, a PE ratio of 17.94, a PEG ratio of 1.92 and a beta of 1.24. CSX Co. has a 12 month low of $26.22 and a 12 month high of $37.10.

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

CSX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 13th. Shareholders of record on Friday, May 30th were issued a dividend of $0.13 per share. This represents a $0.52 annualized dividend and a yield of 1.62%. The ex-dividend date of this dividend was Friday, May 30th. CSX’s payout ratio is 31.14%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on CSX shares. Barclays decreased their price target on shares of CSX from $35.00 to $31.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. BMO Capital Markets reduced their target price on shares of CSX from $36.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Argus set a $32.00 target price on shares of CSX in a research note on Friday, April 25th. Evercore ISI reduced their target price on shares of CSX from $35.00 to $33.00 and set an “outperform” rating on the stock in a research note on Thursday, April 17th. Finally, Raymond James reissued an “outperform” rating and issued a $33.00 target price (down previously from $34.00) on shares of CSX in a research note on Thursday, April 17th. Eight analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, CSX presently has an average rating of “Moderate Buy” and an average price target of $34.14.

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 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.