Geode Capital Management LLC Reduces Stock Holdings in Kirby Co. (NYSE:KEX)

Geode Capital Management LLC cut its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 954,793 shares of the shipping company's stock after selling 6,510 shares during the quarter. Geode Capital Management LLC owned approximately 1.66% of Kirby worth $101,050,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. increased its holdings in Kirby by 848.5% during the 4th quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after purchasing an additional 352,144 shares during the period. Axiom Investors LLC DE increased its stake in shares of Kirby by 33.4% during the fourth quarter. Axiom Investors LLC DE now owns 118,768 shares of the shipping company's stock valued at $12,566,000 after buying an additional 29,736 shares during the period. Wellington Management Group LLP raised its holdings in shares of Kirby by 1.6% in the fourth quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock valued at $186,488,000 after acquiring an additional 28,259 shares in the last quarter. Orion Portfolio Solutions LLC lifted its stake in Kirby by 1.2% in the fourth quarter. Orion Portfolio Solutions LLC now owns 20,191 shares of the shipping company's stock worth $2,136,000 after acquiring an additional 245 shares during the period. Finally, New Age Alpha Advisors LLC bought a new position in Kirby during the 4th quarter worth about $3,746,000. Institutional investors own 96.15% of the company's stock.

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Insider Buying and Selling at Kirby

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

Analyst Ratings Changes

KEX has been the subject of several recent research reports. Bank of America reduced their price target on shares of Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a report on Friday, March 28th. Stifel Nicolaus dropped their target price on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a research report on Thursday, January 9th.

Kirby Stock Up 0.1 %

KEX traded up $0.09 during trading on Tuesday, hitting $96.14. The stock had a trading volume of 32,335 shares, compared to its average volume of 540,159. The stock has a 50 day simple moving average of $100.41 and a two-hundred day simple moving average of $111.11. The company has a market capitalization of $5.47 billion, a PE ratio of 19.58, a PEG ratio of 0.88 and a beta of 0.99. 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 Co. has a twelve month low of $83.94 and a twelve month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last announced its 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%. On average, research analysts predict that Kirby Co. will post 6.57 earnings per share for the current year.

Kirby Company 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.