Allianz Asset Management GmbH Has $353,000 Holdings in Kirby Corporation (NYSE:KEX)

Key Points

• Allianz Asset Management GmbH reduced its stake in Kirby Corporation by 78.4% in Q1 2023, ending with 3,497 shares valued at $353,000 after selling 12,684 shares.
• Several large investors, including Select Equity Group L.P. and Jennison Associates LLC, have increased their holdings in Kirby, with Select Equity growing its position by 59.0%.
• Bank of America raised its price target for Kirby from $116.00 to $125.00 and assigned a "buy" rating in a recent report.

Allianz Asset Management GmbH reduced its position in Kirby Corporation (NYSE:KEX - Free Report) by 78.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,497 shares of the shipping company's stock after selling 12,684 shares during the quarter. Allianz Asset Management GmbH's holdings in Kirby were worth $353,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of KEX. Principal Financial Group Inc. grew its position in Kirby by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company's stock valued at $13,342,000 after buying an additional 470 shares during the last quarter. Blue Trust Inc. increased its position in Kirby by 28.7% in the 1st quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after buying an additional 149 shares during the period. Envestnet Asset Management Inc. boosted its stake in Kirby by 5.3% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,641 shares of the shipping company's stock valued at $7,842,000 after buying an additional 3,924 shares in the last quarter. GAMMA Investing LLC increased its holdings in Kirby by 53.4% in the first quarter. GAMMA Investing LLC now owns 672 shares of the shipping company's stock valued at $68,000 after purchasing an additional 234 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in shares of Kirby by 30.9% during the first quarter. Janney Montgomery Scott LLC now owns 11,075 shares of the shipping company's stock worth $1,119,000 after buying an additional 2,616 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Stock Performance

Shares of Kirby stock traded up $0.19 on Friday, hitting $95.50. 1,660,498 shares of the company's stock were exchanged, compared to its average volume of 696,210. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.96 and a current ratio of 1.58. The stock has a market capitalization of $5.36 billion, a PE ratio of 18.05, a PEG ratio of 0.86 and a beta of 1.01. The company has a 50-day simple moving average of $113.62 and a 200-day simple moving average of $106.23. Kirby Corporation has a 1 year low of $83.94 and a 1 year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The business had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.07%. Kirby's revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.43 EPS. As a group, equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America raised their target price on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, May 16th.

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.