Corebridge Financial Inc. Has $6.87 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Corebridge Financial Inc. lowered its stake in Kirby Co. (NYSE:KEX) by 5.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,953 shares of the shipping company’s stock after selling 3,517 shares during the period. Corebridge Financial Inc. owned 0.11% of Kirby worth $6,872,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP grew its position in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after acquiring an additional 202,272 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Kirby during the fourth quarter worth about $18,749,000. DAVENPORT & Co LLC bought a new position in Kirby in the 4th quarter valued at approximately $16,390,000. Allspring Global Investments Holdings LLC boosted its position in Kirby by 92.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company’s stock worth $23,247,000 after buying an additional 106,411 shares during the period. Finally, Empire Life Investments Inc. bought a new stake in Kirby during the 4th quarter worth approximately $10,442,000. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of Kirby stock opened at $100.77 on Friday. The company has a market cap of $5.73 billion, a P/E ratio of 20.52, a PEG ratio of 0.88 and a beta of 1.18. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The business has a 50-day moving average price of $104.15 and a two-hundred day moving average price of $113.63. Kirby Co. has a 1-year low of $93.63 and a 1-year high of $132.21.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (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%. As a group, analysts anticipate that Kirby Co. will post 6.57 EPS for the current year.

Insider Buying and Selling

In related news, VP Scott P. Miller sold 1,244 shares of the company’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 transaction 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. This represents a 18.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on KEX. StockNews.com lowered shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Bank of America reduced their price target on Kirby from $133.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research report on Friday, January 31st. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $124.75.

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.