AAFMAA Wealth Management & Trust LLC Trims Stake in CSX Co. (NASDAQ:CSX)

AAFMAA Wealth Management & Trust LLC lowered its position in CSX Co. (NASDAQ:CSX) by 15.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,550 shares of the transportation company’s stock after selling 9,728 shares during the period. AAFMAA Wealth Management & Trust LLC’s holdings in CSX were worth $1,605,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in CSX by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 41,633,333 shares of the transportation company’s stock worth $1,339,555,000 after acquiring an additional 726,507 shares in the last quarter. Invesco Ltd. increased its stake in shares of CSX by 13.5% during the fourth quarter. Invesco Ltd. now owns 25,103,077 shares of the transportation company’s stock valued at $810,076,000 after purchasing an additional 2,977,212 shares in the last quarter. Fisher Asset Management LLC lifted its holdings in shares of CSX by 1.2% during the fourth quarter. Fisher Asset Management LLC now owns 24,956,467 shares of the transportation company’s stock valued at $805,345,000 after purchasing an additional 299,536 shares during the last quarter. Norges Bank bought a new stake in shares of CSX in the 4th quarter worth approximately $780,194,000. Finally, Bank of New York Mellon Corp boosted its position in shares of CSX by 40.5% in the 4th quarter. Bank of New York Mellon Corp now owns 23,350,087 shares of the transportation company’s stock worth $753,507,000 after purchasing an additional 6,730,316 shares in the last quarter. Hedge funds and other institutional investors own 73.57% of the company’s stock.

CSX Stock Performance

CSX opened at $32.23 on Friday. The company’s 50 day moving average is $29.28 and its 200 day moving average is $31.39. 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 company has a market cap of $60.55 billion, a price-to-earnings ratio of 18.01, 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 released its quarterly earnings results on Wednesday, April 16th. The transportation company reported $0.34 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.05). CSX had a return on equity of 28.15% and a net margin of 23.95%. The business had revenue of $3.42 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, equities research analysts predict that CSX Co. will post 1.83 EPS for the current year.

CSX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 13th. Investors of record on Friday, May 30th will be given a dividend of $0.13 per share. The ex-dividend date is Friday, May 30th. This represents a $0.52 annualized dividend and a yield of 1.61%. CSX’s dividend payout ratio (DPR) is presently 31.14%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. The Goldman Sachs Group reiterated a “neutral” rating and set a $35.00 price objective on shares of CSX in a research note on Monday, June 2nd. Jefferies Financial Group lowered their price target on CSX from $37.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, April 9th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of CSX in a research note on Friday, March 7th. They issued a “hold” rating and a $34.00 price target on the stock. Barclays reduced their price objective on shares of CSX from $35.00 to $31.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Finally, Citigroup dropped their target price on shares of CSX from $39.00 to $36.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $33.95.

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.