David W. Grzebinski Sells 3,000 Shares of Kirby Co. (NYSE:KEX) Stock

Kirby Co. (NYSE:KEX) CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at approximately $7,627,533.69. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kirby Price Performance

Shares of NYSE:KEX opened at $119.73 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. The company has a market cap of $7.01 billion, a P/E ratio of 28.30, a PEG ratio of 0.73 and a beta of 1.17. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $124.92. The company has a 50-day moving average price of $116.41 and a 200 day moving average price of $96.43.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The firm had revenue of $808.00 million during the quarter, compared to the consensus estimate of $784.49 million. During the same quarter last year, the firm earned $0.68 earnings per share. The firm’s revenue was up 7.7% compared to the same quarter last year. Research analysts predict that Kirby Co. will post 5.3 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Schroder Investment Management Group increased its holdings in Kirby by 12.2% in the fourth quarter. Schroder Investment Management Group now owns 630,360 shares of the shipping company’s stock valued at $49,471,000 after buying an additional 68,420 shares in the last quarter. Quadrature Capital Ltd increased its holdings in Kirby by 166.6% in the fourth quarter. Quadrature Capital Ltd now owns 10,934 shares of the shipping company’s stock valued at $859,000 after buying an additional 6,832 shares in the last quarter. Vanguard Group Inc. increased its holdings in Kirby by 1.1% in the third quarter. Vanguard Group Inc. now owns 6,015,915 shares of the shipping company’s stock valued at $498,118,000 after buying an additional 64,420 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of Kirby during the 4th quarter worth approximately $1,337,000. Finally, VELA Investment Management LLC increased its stake in shares of Kirby by 11.3% during the 4th quarter. VELA Investment Management LLC now owns 139,848 shares of the shipping company’s stock worth $10,975,000 after purchasing an additional 14,201 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KEX shares. BTIG Research increased their target price on Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Bank of America upped their price objective on shares of Kirby from $131.00 to $138.00 and gave the company a “buy” rating in a research note on Monday, June 17th. StockNews.com upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Wolfe Research started coverage on shares of Kirby in a research note on Monday, April 22nd. They issued an “outperform” rating and a $126.00 price objective for the company. Finally, Stifel Nicolaus increased their target price on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research note on Tuesday, May 21st. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and an average target price of $123.20.

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.