Focus Partners Wealth Purchases 945 Shares of Kirby Co. (NYSE:KEX)

Focus Partners Wealth grew its stake in Kirby Co. (NYSE:KEX) by 35.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,624 shares of the shipping company’s stock after purchasing an additional 945 shares during the period. Focus Partners Wealth’s holdings in Kirby were worth $383,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. FORA Capital LLC lifted its stake in shares of Kirby by 333.8% in the 4th quarter. FORA Capital LLC now owns 7,991 shares of the shipping company’s stock valued at $845,000 after purchasing an additional 6,149 shares during the last quarter. Deutsche Bank AG raised its holdings in shares of Kirby by 2,655.4% in the fourth quarter. Deutsche Bank AG now owns 46,897 shares of the shipping company’s stock worth $4,962,000 after buying an additional 45,195 shares during the period. D. E. Shaw & Co. Inc. raised its holdings in shares of Kirby by 14.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 815,008 shares of the shipping company’s stock worth $86,228,000 after buying an additional 100,655 shares during the period. Colonial Trust Co SC raised its holdings in shares of Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company’s stock worth $27,000 after buying an additional 189 shares during the period. Finally, Bridgefront Capital LLC purchased a new stake in shares of Kirby in the fourth quarter worth approximately $820,000. 96.15% of the stock is owned by institutional investors.

Kirby Stock Performance

Shares of Kirby stock opened at $107.88 on Thursday. 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 stock’s fifty day moving average price is $99.77 and its 200-day moving average price is $107.49. The firm has a market cap of $6.05 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.88 and a beta of 0.91. Kirby Co. has a 12 month low of $83.94 and a 12 month high of $132.21.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The company had revenue of $785.66 million for the quarter, compared to analysts’ expectations of $824.12 million. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. On average, equities research analysts expect that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America increased their price target on Kirby from $116.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Stifel Nicolaus reduced their price target on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a report on Friday, January 31st.

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.