Family Legacy Inc. Acquires 375 Shares of CSX Co. (NASDAQ:CSX)

Family Legacy Inc. boosted its stake in shares of CSX Co. (NASDAQ:CSX) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,009 shares of the transportation company’s stock after acquiring an additional 375 shares during the quarter. Family Legacy Inc.’s holdings in CSX were worth $2,190,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Summit Financial LLC increased its holdings in shares of CSX by 13.1% in the fourth quarter. Summit Financial LLC now owns 29,634 shares of the transportation company’s stock valued at $956,000 after purchasing an additional 3,436 shares in the last quarter. Meeder Asset Management Inc. boosted its position in CSX by 216.2% in the 4th quarter. Meeder Asset Management Inc. now owns 1,091 shares of the transportation company’s stock valued at $35,000 after buying an additional 746 shares during the last quarter. Wellington Management Group LLP increased its stake 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. Partners in Financial Planning acquired a new stake in shares of CSX in the 4th quarter valued at $510,000. Finally, O Shaughnessy Asset Management LLC raised its position in shares of CSX by 2.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 313,713 shares of the transportation company’s stock worth $10,124,000 after acquiring an additional 8,294 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.

Analysts Set New Price Targets

CSX has been the subject of a number of research reports. Deutsche Bank Aktiengesellschaft initiated coverage on CSX in a research report on Friday, March 7th. They issued a “hold” rating and a $34.00 price objective for the company. JPMorgan Chase & Co. lowered their price target on shares of CSX from $38.00 to $37.00 and set an “overweight” rating for the company in a research report on Friday, January 24th. Jefferies Financial Group upgraded shares of CSX from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a report on Friday, January 10th. Benchmark reaffirmed a “buy” rating and set a $38.00 target price on shares of CSX in a report on Monday, January 27th. Finally, Wells Fargo & Company cut their price target on CSX from $34.00 to $31.00 and set an “equal weight” rating on the stock in a research note on Thursday. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $36.75.

CSX Price Performance

Shares of CSX opened at $29.11 on Monday. The stock has a 50 day simple moving average of $31.75 and a 200 day simple moving average of $33.20. CSX Co. has a 52-week low of $28.93 and a 52-week high of $37.10. The company has a debt-to-equity ratio of 1.43, a quick ratio of 1.23 and a current ratio of 0.86. The firm has a market capitalization of $54.86 billion, a PE ratio of 16.26, a P/E/G ratio of 1.92 and a beta of 1.25.

CSX (NASDAQ:CSX) last released its quarterly earnings results on Thursday, January 23rd. The transportation company reported $0.42 earnings per share for the quarter, missing the consensus estimate of $0.44 by ($0.02). CSX had a net margin of 23.95% and a return on equity of 28.15%. Sell-side analysts predict that CSX Co. will post 1.83 EPS for the current fiscal year.

CSX Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were issued a dividend of $0.13 per share. This represents a $0.52 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date was Friday, February 28th. This is a boost from CSX’s previous quarterly dividend of $0.12. CSX’s dividend payout ratio is 29.05%.

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.