Bank of America Corp DE Decreases Position in Kirby Corporation $KEX

Key Points

• Bank of America reduced its Kirby stake by 16.1% in the first quarter, selling 66,407 shares and retaining 345,623 shares valued at about $45.9 million. Institutional investors collectively own 96.15% of Kirby’s outstanding stock.
• Kirby reported quarterly earnings of $1.67 per share, surpassing estimates of $1.63, while revenue rose 7.8% year over year to $922.4 million. The company’s full-year 2026 EPS guidance is $7.28.
• Analysts maintain a generally positive outlook, with five Buy ratings and two Holds, producing a “Moderate Buy” consensus and an average price target of $163.20 versus the reported share price of $135.60.

Bank of America Corp DE cut its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 16.1% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 345,623 shares of the shipping company's stock after selling 66,407 shares during the period. Bank of America Corp DE owned approximately 0.65% of Kirby worth $45,926,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC raised its stake in shares of Kirby by 4.2% during the first quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company's stock valued at $255,000 after purchasing an additional 77 shares during the period. Procyon Advisors LLC boosted its stake in shares of Kirby by 2.9% in the first quarter. Procyon Advisors LLC now owns 2,811 shares of the shipping company's stock valued at $374,000 after purchasing an additional 78 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Kirby by 18.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company's stock valued at $69,000 after purchasing an additional 80 shares in the last quarter. Fifth Third Bancorp increased its stake in Kirby by 18.2% during the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company's stock worth $81,000 after buying an additional 114 shares during the period. Finally, M&T Bank Corp lifted its holdings in Kirby by 2.5% in the 4th quarter. M&T Bank Corp now owns 5,179 shares of the shipping company's stock worth $571,000 after buying an additional 125 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of KEX stock opened at $135.60 on Thursday. The firm has a fifty day moving average of $138.94 and a two-hundred day moving average of $136.65. The firm has a market cap of $7.16 billion, a P/E ratio of 20.86, a P/E/G ratio of 1.16 and a beta of 0.84. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.04. The business had revenue of $922.40 million for the quarter, compared to analyst estimates of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company's revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, research analysts anticipate that Kirby Corporation will post 7.28 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In related news, VP Amy D. Husted sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.43, for a total transaction of $581,720.00. Following the sale, the vice president directly owned 10,814 shares of the company's stock, valued at approximately $1,572,680.02. This represents a 27.00% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP William Matthew Woodruff sold 678 shares of the firm's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total value of $99,916.86. Following the transaction, the vice president owned 9 shares in the company, valued at $1,326.33. This trade represents a 98.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 15,965 shares of company stock worth $2,328,749. 0.80% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have weighed in on KEX. Citigroup upped their price objective on shares of Kirby from $165.00 to $170.00 and gave the company a "buy" rating in a research report on Friday, July 31st. 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. Bank of America boosted their price target on Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Wall Street Zen downgraded Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Evercore restated an "outperform" rating and set a $158.00 price objective on shares of Kirby in a research note on Friday, May 1st. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.20.

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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