Bank of America Corp DE Has $63.55 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Bank of America Corp DE reduced its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 20.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 600,680 shares of the shipping company's stock after selling 154,571 shares during the quarter. Bank of America Corp DE owned 1.05% of Kirby worth $63,552,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of KEX. Empowered Funds LLC acquired a new stake in Kirby in the 4th quarter valued at about $25,000. LGT Financial Advisors LLC acquired a new stake in shares of Kirby during the fourth quarter worth $63,000. R Squared Ltd bought a new stake in Kirby in the 4th quarter valued at about $76,000. Quarry LP bought a new stake in shares of Kirby in the fourth quarter valued at approximately $133,000. Finally, Canada Pension Plan Investment Board grew its holdings in shares of Kirby by 433.3% during the 4th quarter. Canada Pension Plan Investment Board now owns 1,600 shares of the shipping company's stock worth $169,000 after purchasing an additional 1,300 shares in the last quarter. Institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of KEX stock traded up $1.16 on Friday, reaching $110.32. The company had a trading volume of 508,298 shares, compared to its average volume of 541,079. The business's 50-day moving average is $98.77 and its 200 day moving average is $107.69. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $6.19 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The business had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. During the same quarter in the prior year, the firm earned $1.19 EPS. The firm's revenue was down 2.8% compared to the same quarter last year. Equities research analysts forecast that Kirby Co. will post 6.57 EPS for the current fiscal year.

Analyst Ratings Changes

KEX has been the subject of a number of recent analyst reports. Bank of America upped their price target on shares of Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday. Stifel Nicolaus reduced their target price on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st.

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.