253,353 Shares in Kirby Corporation $KEX Acquired by Primecap Management Co. CA

Key Points

• Primecap Management acquired 253,353 Kirby shares worth approximately $34.4 million, taking a 0.48% stake. Other institutions also initiated positions, and institutional investors collectively own 96.15% of the company.
• Analyst sentiment is broadly positive: six analysts rate Kirby a Buy and one rates it Hold, producing a consensus “Moderate Buy” rating and an average price target of $163.20.
• Kirby exceeded quarterly expectations with $1.67 in earnings per share and $922.4 million in revenue, up 7.8% year over year. The stock recently traded at $139.26, within its $79.51–$157.69 12-month range.

Primecap Management Co. CA purchased a new position in Kirby Corporation (NYSE:KEX - Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 253,353 shares of the shipping company's stock, valued at approximately $34,448,000. Primecap Management Co. CA owned 0.48% of Kirby as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of KEX. Castleark Management LLC purchased a new stake in shares of Kirby during the second quarter valued at approximately $806,000. Legal & General Group Plc purchased a new position in shares of Kirby in the second quarter valued at $5,860,000. The Manufacturers Life Insurance Company purchased a new position in shares of Kirby in the second quarter valued at $5,187,000. Sanctuary Advisors LLC acquired a new stake in Kirby during the 2nd quarter valued at $1,728,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Kirby during the 2nd quarter valued at $18,918,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

KEX has been the topic of a number of recent analyst reports. Bank of America boosted their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. BTIG Research reaffirmed a "buy" rating and set a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Evercore reiterated an "outperform" rating and issued a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. Finally, Wall Street Zen downgraded Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, Kirby currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Kirby Stock Performance

KEX stock opened at $139.26 on Thursday. The stock's 50 day simple moving average is $138.44 and its 200 day simple moving average is $137.75. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69. The firm has a market cap of $7.35 billion, a P/E ratio of 21.42, a P/E/G ratio of 1.24 and a beta of 0.84. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.04. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The firm had revenue of $922.40 million during the quarter, compared to the consensus estimate of $870.38 million. During the same quarter in the previous year, the company posted $1.67 earnings per share. The firm's revenue was up 7.8% on a year-over-year basis. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, equities research analysts predict that Kirby Corporation will post 7.07 EPS for the current year.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America's largest fleets of inland tank barges and towing vessels. Kirby's fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby's Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.

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