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

Jennison Associates LLC trimmed its position in Kirby Co. (NYSE:KEX) by 1.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,347,089 shares of the shipping company’s stock after selling 26,622 shares during the period. Jennison Associates LLC owned about 2.28% of Kirby worth $105,720,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of KEX. Turtle Creek Wealth Advisors LLC acquired a new stake in Kirby in the 4th quarter worth about $53,000. NBC Securities Inc. acquired a new position in shares of Kirby during the 3rd quarter worth approximately $59,000. AXQ Capital LP acquired a new position in shares of Kirby during the 3rd quarter worth approximately $224,000. Panagora Asset Management Inc. acquired a new position in shares of Kirby during the 3rd quarter worth approximately $226,000. Finally, Vestmark Advisory Solutions Inc. acquired a new position in shares of Kirby during the 3rd quarter worth approximately $239,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Kirby

In other news, VP Ronald A. Dragg sold 1,413 shares of the stock in a transaction dated Wednesday, February 7th. The shares were sold at an average price of $84.68, for a total transaction of $119,652.84. Following the completion of the sale, the vice president now owns 10,651 shares in the company, valued at $901,926.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Scott P. Miller sold 1,828 shares of Kirby stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at approximately $79,600. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ronald A. Dragg sold 1,413 shares of Kirby stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $84.68, for a total transaction of $119,652.84. Following the sale, the vice president now owns 10,651 shares of the company’s stock, valued at $901,926.68. The disclosure for this sale can be found here. Insiders sold 56,418 shares of company stock worth $4,932,521 over the last 90 days. Corporate insiders own 1.40% of the company’s stock.

Kirby Stock Up 3.5 %

Kirby stock opened at $99.14 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $91.51 and its 200-day simple moving average is $83.09. The firm has a market capitalization of $5.80 billion, a P/E ratio of 26.65, a P/E/G ratio of 1.62 and a beta of 1.21. Kirby Co. has a twelve month low of $66.42 and a twelve month high of $101.30.

Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The company had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same quarter in the prior year, the firm posted $0.67 earnings per share. Kirby’s revenue for the quarter was up 9.5% on a year-over-year basis. As a group, equities analysts expect that Kirby Co. will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KEX has been the topic of several analyst reports. Wolfe Research initiated coverage on shares of Kirby in a research report on Monday. They set an “outperform” rating and a $126.00 price target on the stock. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Stephens reissued an “overweight” rating and issued a $105.00 target price on shares of Kirby in a research report on Monday, February 5th. BTIG Research boosted their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus boosted their target price on Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a research report on Friday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $116.00.

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.