Kirby Co. (KEX) Stake Boosted by Wells Fargo & Company MN

Wells Fargo & Company MN grew its position in shares of Kirby Co. (NYSE:KEX) by 44.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 198,911 shares of the shipping company’s stock after acquiring an additional 60,976 shares during the period. Wells Fargo & Company MN owned about 0.37% of Kirby worth $13,118,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Citigroup Inc. increased its stake in shares of Kirby by 0.6% in the second quarter. Citigroup Inc. now owns 7,699 shares of the shipping company’s stock worth $515,000 after purchasing an additional 48 shares in the last quarter. Utah Retirement Systems grew its stake in Kirby by 1.0% during the second quarter. Utah Retirement Systems now owns 9,739 shares of the shipping company’s stock valued at $651,000 after acquiring an additional 100 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Kirby by 0.4% in the 2nd quarter. Great West Life Assurance Co. Can now owns 27,882 shares of the shipping company’s stock worth $1,862,000 after acquiring an additional 117 shares during the last quarter. Ameritas Investment Partners Inc. lifted its holdings in shares of Kirby by 1.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 16,161 shares of the shipping company’s stock worth $1,080,000 after acquiring an additional 285 shares during the last quarter. Finally, Prudential Financial Inc. lifted its holdings in shares of Kirby by 1.2% in the 2nd quarter. Prudential Financial Inc. now owns 33,710 shares of the shipping company’s stock worth $2,254,000 after acquiring an additional 410 shares during the last quarter. Institutional investors and hedge funds own 96.58% of the company’s stock.

Shares of Kirby Co. (NYSE:KEX) opened at $69.40 on Friday. The stock has a market cap of $4,083.27, a PE ratio of 32.89, a PEG ratio of 4.26 and a beta of 1.04. Kirby Co. has a 1 year low of $59.25 and a 1 year high of $74.50. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.23 and a current ratio of 1.93.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.08. The business had revenue of $541.30 million for the quarter, compared to analyst estimates of $517.54 million. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The company’s revenue for the quarter was up 24.5% compared to the same quarter last year. During the same period last year, the firm posted $0.59 earnings per share. research analysts expect that Kirby Co. will post 2.01 EPS for the current fiscal year.

Several research firms have recently issued reports on KEX. Jefferies Group restated a “buy” rating and issued a $85.00 target price on shares of Kirby in a report on Monday, October 16th. Stifel Nicolaus reiterated a “hold” rating and set a $67.00 price objective on shares of Kirby in a report on Friday, November 3rd. Finally, BidaskClub upgraded shares of Kirby from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $75.40.

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About Kirby

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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