Sepio Capital LP Sells 1,567 Shares of Kirby Corporation $KEX

Sepio Capital LP decreased its stake in Kirby Corporation (NYSE:KEX) by 18.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,018 shares of the shipping company’s stock after selling 1,567 shares during the period. Sepio Capital LP’s holdings in Kirby were worth $796,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of KEX. F m Investments LLC boosted its position in Kirby by 0.5% during the second quarter. F m Investments LLC now owns 42,091 shares of the shipping company’s stock valued at $4,774,000 after purchasing an additional 223 shares during the last quarter. Norges Bank acquired a new position in shares of Kirby during the 2nd quarter worth approximately $78,256,000. Quadrant Capital Group LLC raised its stake in shares of Kirby by 511.6% during the 2nd quarter. Quadrant Capital Group LLC now owns 5,780 shares of the shipping company’s stock worth $656,000 after purchasing an additional 4,835 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of Kirby by 13.0% in the 2nd quarter. XTX Topco Ltd now owns 11,253 shares of the shipping company’s stock valued at $1,276,000 after buying an additional 1,297 shares during the last quarter. Finally, Summit Global Investments boosted its holdings in shares of Kirby by 3.1% in the 2nd quarter. Summit Global Investments now owns 10,321 shares of the shipping company’s stock valued at $1,171,000 after buying an additional 309 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Evercore ISI boosted their target price on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $125.00 target price on shares of Kirby in a report on Thursday, September 18th. Bank of America reduced their price target on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a report on Wednesday, September 3rd. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, November 1st. Finally, Citigroup raised Kirby from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $110.00 to $128.00 in a report on Wednesday, November 5th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Kirby has a consensus rating of “Moderate Buy” and a consensus price target of $123.40.

Kirby Stock Performance

Shares of NYSE KEX opened at $113.80 on Tuesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12. The stock’s fifty day moving average price is $95.71 and its two-hundred day moving average price is $102.08. Kirby Corporation has a one year low of $79.51 and a one year high of $126.97. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 21.11, a P/E/G ratio of 1.05 and a beta of 1.05.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The company had revenue of $871.16 million during the quarter, compared to the consensus estimate of $843.29 million. Kirby had a return on equity of 10.06% and a net margin of 9.22%.The company’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.55 earnings per share. On average, equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 10,413 shares of the firm’s stock in a transaction on Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the transaction, the vice president owned 11,760 shares in the company, valued at $1,263,259.20. This trade represents a 46.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Ross Stewart sold 1,923 shares of the stock in a transaction on Monday, November 10th. The stock was sold at an average price of $107.83, for a total value of $207,357.09. Following the sale, the director directly owned 15,488 shares in the company, valued at approximately $1,670,071.04. This trade represents a 11.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 44,502 shares of company stock worth $4,788,691 over the last quarter. Company insiders own 0.90% 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.