Tributary Capital Management LLC Boosts Stock Position in CSX Co. (NASDAQ:CSX)

Tributary Capital Management LLC grew its holdings in CSX Co. (NASDAQ:CSX) by 10.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,900 shares of the transportation company’s stock after buying an additional 2,000 shares during the quarter. Tributary Capital Management LLC’s holdings in CSX were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in CSX. Miracle Mile Advisors LLC grew its holdings in shares of CSX by 0.3% in the 1st quarter. Miracle Mile Advisors LLC now owns 103,563 shares of the transportation company’s stock valued at $3,839,000 after buying an additional 303 shares during the period. High Net Worth Advisory Group LLC grew its holdings in shares of CSX by 1.7% in the 4th quarter. High Net Worth Advisory Group LLC now owns 17,704 shares of the transportation company’s stock valued at $614,000 after buying an additional 304 shares during the period. Stratos Wealth Advisors LLC grew its holdings in shares of CSX by 1.1% in the 4th quarter. Stratos Wealth Advisors LLC now owns 28,210 shares of the transportation company’s stock valued at $978,000 after buying an additional 304 shares during the period. Cornercap Investment Counsel Inc. boosted its stake in CSX by 0.3% in the 4th quarter. Cornercap Investment Counsel Inc. now owns 120,244 shares of the transportation company’s stock worth $4,169,000 after purchasing an additional 309 shares during the period. Finally, FCA Corp TX boosted its stake in CSX by 0.3% in the 4th quarter. FCA Corp TX now owns 115,572 shares of the transportation company’s stock worth $4,007,000 after purchasing an additional 339 shares during the period. 73.57% of the stock is currently owned by hedge funds and other institutional investors.

CSX Stock Performance

CSX stock traded up $0.10 during mid-day trading on Tuesday, hitting $33.69. The company had a trading volume of 702,176 shares, compared to its average volume of 11,891,171. The firm has a market cap of $65.86 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 1.73 and a beta of 1.20. The company has a debt-to-equity ratio of 1.42, a quick ratio of 1.00 and a current ratio of 1.15. CSX Co. has a 12 month low of $29.03 and a 12 month high of $40.12. The stock’s fifty day moving average price is $33.46 and its two-hundred day moving average price is $35.14.

CSX (NASDAQ:CSX) last posted its quarterly earnings results on Wednesday, April 17th. The transportation company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.66 billion. CSX had a net margin of 24.75% and a return on equity of 29.58%. The company’s quarterly revenue was down .8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.48 earnings per share. On average, analysts forecast that CSX Co. will post 1.96 earnings per share for the current fiscal year.

CSX Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 31st were issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Friday, May 31st. CSX’s dividend payout ratio (DPR) is presently 26.37%.

Analysts Set New Price Targets

Several brokerages have commented on CSX. Susquehanna cut their price target on shares of CSX from $44.00 to $40.00 and set a “positive” rating on the stock in a research report on Tuesday, June 25th. Jefferies Financial Group dropped their target price on shares of CSX from $40.00 to $38.00 and set a “hold” rating on the stock in a report on Thursday, April 18th. Royal Bank of Canada dropped their target price on shares of CSX from $37.00 to $36.00 and set a “sector perform” rating on the stock in a report on Thursday, April 18th. Stifel Nicolaus upped their target price on shares of CSX from $37.00 to $39.00 and gave the company a “buy” rating in a report on Friday, April 12th. Finally, UBS Group dropped their target price on shares of CSX from $46.00 to $44.00 and set a “buy” rating on the stock in a report on Thursday, April 18th. Six analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.59.

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.