Wells Fargo & Company MN Cuts Position in Kirby Co. (NYSE:KEX)

Wells Fargo & Company MN reduced its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,922 shares of the shipping company's stock after selling 18,084 shares during the quarter. Wells Fargo & Company MN's holdings in Kirby were worth $2,002,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Kirby during the 4th quarter valued at $74,293,000. Franklin Resources Inc. lifted its holdings in Kirby by 848.5% in the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock valued at $41,648,000 after acquiring an additional 352,144 shares during the period. Artemis Investment Management LLP boosted its position in Kirby by 112.0% in the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock worth $40,504,000 after purchasing an additional 202,272 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kirby during the 4th quarter valued at about $18,749,000. Finally, DAVENPORT & Co LLC purchased a new stake in shares of Kirby during the 4th quarter valued at about $16,390,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares of the company's stock, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.90% of the company's stock.

Wall Street Analysts Forecast Growth

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

Kirby Stock Performance

NYSE KEX traded up $0.08 on Tuesday, reaching $95.86. 454,997 shares of the stock were exchanged, compared to its average volume of 533,754. 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 Co. has a one year low of $83.94 and a one year high of $132.21. The firm has a market capitalization of $5.45 billion, a PE ratio of 19.52, a PEG ratio of 0.88 and a beta of 0.99. The company's 50-day simple moving average is $97.95 and its two-hundred day simple moving average is $109.24.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 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%. Analysts expect that Kirby Co. will post 6.57 EPS for the current fiscal year.

About Kirby

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.