Kirby Co. (NYSE:KEX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lowered its position in Kirby Co. (NYSE:KEX - Free Report) by 9.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,199,794 shares of the shipping company's stock after selling 128,088 shares during the period. Jennison Associates LLC owned about 2.07% of Kirby worth $146,891,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Quest Partners LLC grew its position in Kirby by 0.7% during the third quarter. Quest Partners LLC now owns 12,462 shares of the shipping company's stock worth $1,526,000 after buying an additional 89 shares during the period. Americana Partners LLC increased its stake in Kirby by 2.1% in the 3rd quarter. Americana Partners LLC now owns 4,900 shares of the shipping company's stock valued at $600,000 after purchasing an additional 100 shares in the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Kirby by 0.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company's stock worth $2,792,000 after purchasing an additional 108 shares in the last quarter. Huntington National Bank increased its position in shares of Kirby by 8.5% in the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company's stock valued at $204,000 after buying an additional 130 shares in the last quarter. Finally, Vanguard Personalized Indexing Management LLC raised its stake in shares of Kirby by 3.1% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 4,372 shares of the shipping company's stock worth $523,000 after buying an additional 133 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, COO Christian G. O'neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the sale, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. This trade represents a 66.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the company's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares of the company's stock, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,596 shares of company stock valued at $7,515,760. Company insiders own 1.40% of the company's stock.

Kirby Trading Up 0.2 %

Shares of KEX traded up $0.29 during mid-day trading on Wednesday, reaching $128.59. The company had a trading volume of 282,445 shares, compared to its average volume of 454,876. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $132.21. The firm has a fifty day simple moving average of $122.99 and a 200-day simple moving average of $120.14. The stock has a market cap of $7.38 billion, a price-to-earnings ratio of 24.63, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.05 earnings per share. On average, sell-side analysts anticipate that Kirby Co. will post 5.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on KEX shares. StockNews.com downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. Bank of America boosted their price target on Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Kirby has an average rating of "Moderate Buy" and an average price target of $123.80.

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.