Kirby Co. (NYSE:KEX) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its stake in Kirby Co. (NYSE:KEX) by 12.3% in the 4th quarter, Holdings Channel reports. The firm owned 288,020 shares of the shipping company’s stock after selling 40,344 shares during the quarter. Schroder Investment Management Group’s holdings in Kirby were worth $30,455,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its stake in shares of Kirby by 27.5% in the third quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company’s stock valued at $17,418,000 after buying an additional 30,713 shares in the last quarter. Bank of New York Mellon Corp grew its position in Kirby by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company’s stock valued at $43,911,000 after acquiring an additional 10,486 shares in the last quarter. Artemis Investment Management LLP raised its stake in shares of Kirby by 112.0% during the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock valued at $40,504,000 after purchasing an additional 202,272 shares during the period. Asset Management One Co. Ltd. lifted its position in shares of Kirby by 24.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company’s stock worth $3,143,000 after purchasing an additional 5,804 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Kirby in the fourth quarter valued at $18,749,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of Kirby stock opened at $101.73 on Wednesday. The firm has a market cap of $5.79 billion, a PE ratio of 20.72, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Kirby Co. has a 1 year low of $93.63 and a 1 year high of $132.21. The firm’s 50-day simple moving average is $103.71 and its 200-day simple moving average is $113.39. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities analysts forecast that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now directly owns 5,545 shares in the company, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.90% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on KEX shares. Bank of America dropped their price target on shares of Kirby from $133.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, March 28th. Stifel Nicolaus reduced their price target on Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. One investment 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 stock presently has a consensus rating of “Moderate Buy” and an average target price 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.