Chesapeake Capital Corp IL Sells 2,643 Shares of Kirby Co. (NYSE:KEX)

Chesapeake Capital Corp IL cut its stake in Kirby Co. (NYSE:KEX - Free Report) by 53.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,316 shares of the shipping company's stock after selling 2,643 shares during the quarter. Chesapeake Capital Corp IL's holdings in Kirby were worth $245,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of KEX. Quest Partners LLC lifted its stake in Kirby by 0.7% in the third quarter. Quest Partners LLC now owns 12,462 shares of the shipping company's stock valued at $1,526,000 after acquiring an additional 89 shares during the last quarter. Janney Montgomery Scott LLC lifted its stake in shares of Kirby by 1.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock valued at $895,000 after purchasing an additional 108 shares during the last quarter. Corient Private Wealth LLC boosted its holdings in Kirby by 0.5% in the fourth quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock worth $3,271,000 after purchasing an additional 140 shares in the last quarter. Signaturefd LLC boosted its holdings in Kirby by 13.1% in the fourth quarter. Signaturefd LLC now owns 1,746 shares of the shipping company's stock worth $185,000 after purchasing an additional 202 shares in the last quarter. Finally, Virtus Fund Advisers LLC increased its position in Kirby by 38.8% during the third quarter. Virtus Fund Advisers LLC now owns 833 shares of the shipping company's stock worth $102,000 after buying an additional 233 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Remove Ads

Kirby Stock Performance

Kirby stock traded up $1.17 on Friday, reaching $101.31. 1,176,121 shares of the stock were exchanged, compared to its average volume of 518,607. The stock has a market cap of $5.76 billion, a PE ratio of 20.63, a PEG ratio of 0.88 and a beta of 1.18. The firm has a fifty day moving average price of $104.67 and a two-hundred day moving average price of $114.05. Kirby Co. has a twelve month low of $92.13 and a twelve month high of $132.21. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share 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%. Sell-side analysts anticipate that Kirby Co. will post 6.57 EPS for the current year.

Analyst Ratings Changes

Several analysts have recently issued reports on KEX shares. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Stifel Nicolaus reduced their target price on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.25.

Insider Transactions at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the company's stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the transaction, the vice president now owns 5,545 shares of the company's stock, valued at approximately $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

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.