Capital Fund Management S.A. Has $5.59 Million Stake in Kirby Corporation $KEX

Key Points

• Capital Fund Management S.A. increased its stake in Kirby Corporation by 202.2% during the 1st quarter, now holding $5.59 million worth of shares.
• Bank of America raised its price target for Kirby from $116.00 to $125.00, maintaining a "buy" rating with a consensus price target of $130.00.
• Kirby Corporation reported earnings of $1.67 per share for the last quarter, surpassing expectations and showing a 3.8% year-over-year revenue growth.

Capital Fund Management S.A. increased its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 202.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,327 shares of the shipping company's stock after acquiring an additional 37,016 shares during the quarter. Capital Fund Management S.A. owned about 0.10% of Kirby worth $5,589,000 as of its most recent SEC filing.

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

Kirby Stock Up 0.1%

Shares of NYSE KEX traded up $0.08 during midday trading on Wednesday, reaching $98.35. The company's stock had a trading volume of 262,541 shares, compared to its average volume of 616,488. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Corporation has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 18.57, a PEG ratio of 0.98 and a beta of 1.01. The stock has a 50 day simple moving average of $109.21 and a 200-day simple moving average of $105.03.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data 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. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The company had revenue of $855.46 million for the quarter, compared to the consensus estimate of $851.94 million. During the same period last year, the company earned $1.43 earnings per share. The firm's revenue was up 3.8% compared to the same quarter last year. Equities research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current year.

Analyst Ratings Changes

Separately, Bank of America lifted their price target on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $130.00.

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.