EFG International AG Buys New Shares in Kirby Corporation $KEX

Key Points

• EFG International AG acquired 36,350 Kirby shares worth approximately $4.94 million, joining other institutions that have increased their positions. Institutional investors own 96.15% of Kirby.
• Analysts remain broadly positive, with six Buy ratings and one Hold rating; Kirby has a “Moderate Buy” consensus and an average price target of $163.20.
• Kirby’s latest quarterly results beat expectations, with EPS of $1.67 and revenue of $922.4 million, up 7.8% year over year. Shares opened at $137.83, near their 50-day and 200-day moving averages.

EFG International AG purchased a new stake in Kirby Corporation (NYSE:KEX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 36,350 shares of the shipping company's stock, valued at approximately $4,941,000. EFG International AG owned about 0.07% of Kirby at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. BlackRock Inc. acquired a new position in shares of Kirby during the 2nd quarter worth approximately $733,274,000. Goldman Sachs Group Inc. boosted its holdings in shares of Kirby by 92.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock valued at $287,803,000 after buying an additional 1,251,700 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock valued at $248,640,000 after buying an additional 1,178,963 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after buying an additional 959,209 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Kirby in the fourth quarter valued at $81,355,000. 96.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on KEX shares. Citigroup upped their price target on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Wall Street Zen lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America upped their target price on shares of Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Evercore reiterated an "outperform" rating and issued a $158.00 target price on shares of Kirby in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Kirby currently has an average rating of "Moderate Buy" and an average target price of $163.20.

Kirby Stock Down 0.6%

KEX opened at $137.83 on Wednesday. The stock's fifty day simple moving average is $138.47 and its 200 day simple moving average is $137.61. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The stock has a market cap of $7.28 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 1.25 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 analysts' expectations of $870.38 million. During the same period in the previous year, the business posted $1.67 earnings per share. The company's revenue for the quarter was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, research analysts expect that Kirby Corporation will post 7.07 earnings per share 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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