Geode Capital Management LLC Increases Stake in Kirby Co. (NYSE:KEX)

Geode Capital Management LLC increased its position in shares of Kirby Co. (NYSE:KEX) by 0.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 961,303 shares of the shipping company’s stock after buying an additional 2,784 shares during the period. Geode Capital Management LLC owned about 1.67% of Kirby worth $117,724,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in KEX. Farther Finance Advisors LLC increased its position in shares of Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares during the last quarter. International Assets Investment Management LLC purchased a new position in Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in Kirby in the third quarter valued at $30,000. Blue Trust Inc. lifted its holdings in Kirby by 91.0% during the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after buying an additional 141 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new position in shares of Kirby during the 2nd quarter worth about $37,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Wednesday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Kirby presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Stock Down 2.6 %

KEX opened at $110.78 on Wednesday. Kirby Co. has a one year low of $74.88 and a one year high of $132.21. 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 stock has a market capitalization of $6.36 billion, a P/E ratio of 21.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The business’s 50-day simple moving average is $123.27 and its 200-day simple moving average is $120.81.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million during the quarter, compared to analysts’ expectations of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.05 earnings per share. Analysts anticipate that Kirby Co. will post 5.45 EPS for the current year.

Insider Buying and Selling

In related news, VP Ronald A. Dragg sold 2,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the sale, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This trade represents a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total transaction of $361,018.62. Following the completion of the transaction, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. This represents a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,207 shares of company stock worth $3,636,474 in the last 90 days. Company insiders own 1.50% of the company’s stock.

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.