California Public Employees Retirement System Has $11.24 Million Stock Holdings in Kirby Co. (NYSE:KEX)

California Public Employees Retirement System lowered its holdings in Kirby Co. (NYSE:KEX - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 106,222 shares of the shipping company's stock after selling 6,039 shares during the period. California Public Employees Retirement System owned approximately 0.19% of Kirby worth $11,238,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of KEX. Captrust Financial Advisors raised its holdings in shares of Kirby by 4.6% during the third quarter. Captrust Financial Advisors now owns 13,644 shares of the shipping company's stock worth $1,670,000 after acquiring an additional 597 shares in the last quarter. Benjamin Edwards Inc. raised its holdings in shares of Kirby by 31.7% during the third quarter. Benjamin Edwards Inc. now owns 7,833 shares of the shipping company's stock worth $959,000 after acquiring an additional 1,887 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Kirby during the third quarter worth $202,000. Quantinno Capital Management LP raised its holdings in shares of Kirby by 51.2% during the third quarter. Quantinno Capital Management LP now owns 8,790 shares of the shipping company's stock worth $1,076,000 after acquiring an additional 2,977 shares in the last quarter. Finally, State Street Corp raised its holdings in shares of Kirby by 0.7% during the third quarter. State Street Corp now owns 1,667,520 shares of the shipping company's stock worth $204,154,000 after acquiring an additional 12,337 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

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Insider Activity

In other news, VP Scott P. Miller sold 1,244 shares of the firm's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now directly owns 5,545 shares of the company's stock, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the company. Bank of America cut their price objective on Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a report on Friday, March 28th. StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th. Finally, Stifel Nicolaus lowered their target price on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st.

Kirby Stock Performance

Shares of NYSE:KEX traded down $2.23 during midday trading on Thursday, hitting $93.75. The company's stock had a trading volume of 60,353 shares, compared to its average volume of 536,719. The stock has a market capitalization of $5.33 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 0.88 and a beta of 0.99. The stock's 50 day simple moving average is $101.14 and its 200 day simple moving average is $111.80. Kirby Co. has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. As a group, research analysts anticipate that Kirby Co. will post 6.57 earnings per share for the current year.

Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.