Creative Planning Increases Position in Kirby Co. (NYSE:KEX)

Creative Planning lifted its stake in shares of Kirby Co. (NYSE:KEX) by 2.2% during the third quarter, Holdings Channel reports. The fund owned 6,683 shares of the shipping company’s stock after acquiring an additional 147 shares during the period. Creative Planning’s holdings in Kirby were worth $818,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. International Assets Investment Management LLC purchased a new stake in shares of Kirby during the second quarter worth $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kirby during the third quarter worth $30,000. ORG Partners LLC purchased a new stake in shares of Kirby during the second quarter worth $32,000. Opal Wealth Advisors LLC purchased a new stake in shares of Kirby during the second quarter worth $33,000. Finally, Blue Trust Inc. increased its position in shares of Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 5,280 shares in the company, valued at $668,131.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, COO Christian G. O’neil sold 2,770 shares of the stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares in the company, valued at approximately $1,772,066.59. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,012 shares of company stock worth $5,571,267 over the last 90 days. Corporate insiders own 1.50% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the topic of a number of recent research reports. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

Kirby Stock Performance

Shares of KEX stock opened at $114.28 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average price of $120.75 and a 200 day moving average price of $118.21. The company has a market cap of $6.62 billion, a P/E ratio of 21.93, a PEG ratio of 0.71 and a beta of 1.18. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $130.90.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during 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 9.49%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.05 earnings per share. Sell-side analysts predict that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

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.