Kirby Co. (NYSE:KEX) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in shares of Kirby Co. (NYSE:KEX) by 0.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 961,303 shares of the shipping company’s stock after acquiring an additional 2,784 shares during the period. Geode Capital Management LLC’s holdings in Kirby were worth $117,724,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of KEX. Farther Finance Advisors LLC grew its holdings in Kirby by 420.0% during the 3rd 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 during the last quarter. International Assets Investment Management LLC purchased a new stake in shares of Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC acquired a new stake in shares of Kirby during the third quarter valued at $30,000. Blue Trust Inc. increased its position 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 purchasing an additional 141 shares in the last quarter. Finally, Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Kirby during the second quarter worth about $37,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling

In other news, VP Amy D. Husted sold 2,853 shares of the business’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at approximately $668,131.20. The trade was a 35.08 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Ross Stewart sold 8,000 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the transaction, the director now directly owns 15,488 shares in the company, valued at $1,985,716.48. The trade was a 34.06 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,207 shares of company stock worth $3,636,474. 1.50% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Wednesday. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Down 2.6 %

Shares of NYSE:KEX opened at $110.78 on Wednesday. The company has a 50 day moving average of $123.27 and a two-hundred day moving average of $120.81. Kirby Co. has a 52-week low of $74.88 and a 52-week high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18.

Kirby (NYSE:KEX) last released its quarterly earnings results 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. The firm had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.05 EPS. As a group, analysts forecast that Kirby Co. will post 5.45 earnings per share 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.