Deutsche Bank AG Has $6.91 Million Stock Position in Kirby Corporation $KEX

Key Points

• Deutsche Bank AG increased its stake in Kirby Corporation by 45.8%, acquiring an additional 21,480 shares during the first quarter, bringing their total ownership to 68,377 shares valued at around $6.9 million.
• Other institutional investors, including the Ontario Teachers Pension Plan Board and American Assets Investment Management LLC, also made significant adjustments to their positions in Kirby, with several increasing their stakes by over 19% and 295% respectively.
• The stock received a positive rating from Bank of America, which raised its price target from $116 to $125, indicating a growing confidence in Kirby's financial performance.

Deutsche Bank AG grew its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 45.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 68,377 shares of the shipping company's stock after purchasing an additional 21,480 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of Kirby worth $6,907,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Colonial Trust Co SC boosted its stake in shares of Kirby by 295.3% during the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after purchasing an additional 189 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Kirby in the first quarter valued at $28,000. KBC Group NV acquired a new stake in Kirby in the first quarter valued at $32,000. UMB Bank n.a. increased its holdings in Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after purchasing an additional 209 shares during the period. Finally, Versant Capital Management Inc acquired a new stake in shares of Kirby in the first quarter valued at about $44,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Kirby Trading Down 1.1%

Shares of KEX stock traded down $1.1250 on Wednesday, hitting $97.3750. The company had a trading volume of 127,820 shares, compared to its average volume of 620,816. The firm has a market cap of $5.43 billion, a P/E ratio of 18.41, a P/E/G ratio of 0.97 and a beta of 1.01. The stock's 50-day moving average is $110.63 and its two-hundred day moving average is $105.34. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. Kirby Corporation has a twelve month low of $83.94 and a twelve month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The business had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. During the same quarter last year, the firm posted $1.43 earnings per share. The firm's revenue was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Kirby Company 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.