Primecap Management Co. CA Sells 14,100 Shares of Kirby Co. (NYSE:KEX)

Primecap Management Co. CA decreased its position in Kirby Co. (NYSE:KEX - Free Report) by 5.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 268,000 shares of the shipping company's stock after selling 14,100 shares during the quarter. Primecap Management Co. CA owned about 0.46% of Kirby worth $32,811,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Farther Finance Advisors LLC increased its holdings in shares of Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after buying an additional 168 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kirby during the third quarter valued at $30,000. ORG Partners LLC acquired a new position in shares of Kirby in the 2nd quarter valued at $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in Kirby in the 2nd quarter worth about $33,000. Institutional investors own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of Kirby from a "buy" rating to a "hold" rating in a report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.80.

Kirby Stock Down 0.4 %

Shares of KEX stock traded down $0.53 during trading on Friday, hitting $128.28. 596,358 shares of the company were exchanged, compared to its average volume of 456,076. The firm has a market capitalization of $7.36 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.76 and a beta of 1.17. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The business's 50-day simple moving average is $123.54 and its 200 day simple moving average is $120.27. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $132.21.

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

Insider Activity

In other Kirby news, COO Christian G. O'neil sold 14,031 shares of the business's stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $123.29, for a total value of $1,729,881.99. Following the completion of the sale, the chief operating officer now owns 12,746 shares of the company's stock, valued at $1,571,454.34. The trade was a 52.40 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of the company's stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now owns 5,280 shares of the company's stock, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,596 shares of company stock worth $8,541,440 in the last three months. 1.50% of the stock is owned by insiders.

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.