Greenwood Capital Associates LLC Sells 3,650 Shares of Kirby Co. (NYSE:KEX)

Greenwood Capital Associates LLC decreased its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 37.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,021 shares of the shipping company's stock after selling 3,650 shares during the period. Greenwood Capital Associates LLC's holdings in Kirby were worth $608,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of KEX. Bank of New York Mellon Corp raised its holdings in Kirby by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company's stock worth $43,911,000 after purchasing an additional 10,486 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Kirby during the 4th quarter worth approximately $18,749,000. Asset Management One Co. Ltd. raised its stake in shares of Kirby by 24.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 29,659 shares of the shipping company's stock worth $3,143,000 after buying an additional 5,804 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Kirby by 15,397.5% in the first quarter. GAMMA Investing LLC now owns 67,879 shares of the shipping company's stock valued at $6,856,000 after buying an additional 67,441 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in Kirby by 9.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 4,402 shares of the shipping company's stock valued at $466,000 after acquiring an additional 379 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

Kirby Price Performance

Kirby stock traded down $1.95 during trading hours on Friday, reaching $110.63. 417,950 shares of the stock were exchanged, compared to its average volume of 544,719. The stock has a 50 day moving average of $103.43 and a two-hundred day moving average of $105.72. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. Kirby Co. has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a market cap of $6.21 billion, a P/E ratio of 22.53, a price-to-earnings-growth ratio of 0.88 and a beta of 0.97.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The company had revenue of $785.66 million during the quarter, compared to analysts' expectations of $824.12 million. During the same quarter in the previous year, the firm earned $1.19 EPS. Kirby's revenue was down 2.8% on a year-over-year basis. Equities analysts expect that Kirby Co. will post 6.57 EPS for the current fiscal year.

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.