Jennison Associates LLC Has $100.73 Million Stock Position in Kirby Corporation $KEX

Key Points

• Jennison Associates LLC increased its Kirby Corporation stake by 3.3% in the first quarter, bringing its holdings to 758,029 shares valued at about $100.7 million.
• Kirby reported better-than-expected quarterly results, with EPS of $1.50 versus the $1.41 estimate and revenue of $844.1 million, while also raising its FY 2026 guidance to $6.65-$7.28 EPS.
• Analysts remain upbeat on the stock: several firms raised price targets, and the consensus rating is Moderate Buy with an average target price of $162.20.

Jennison Associates LLC increased its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 3.3% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 758,029 shares of the shipping company's stock after acquiring an additional 24,147 shares during the period. Jennison Associates LLC owned about 1.41% of Kirby worth $100,727,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Maseco LLP bought a new position in Kirby in the fourth quarter valued at approximately $27,000. Rothschild Investment LLC increased its position in shares of Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock worth $30,000 after purchasing an additional 260 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after purchasing an additional 258 shares in the last quarter. Parallel Advisors LLC raised its stake in shares of Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Finally, Root Financial Partners LLC boosted its holdings in shares of Kirby by 182.9% in the 1st quarter. Root Financial Partners LLC now owns 430 shares of the shipping company's stock valued at $57,000 after buying an additional 278 shares during the last quarter. Institutional investors own 96.15% of the company's stock.

Kirby Stock Down 0.3%

KEX stock opened at $143.75 on Monday. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The business's 50 day simple moving average is $141.30 and its 200 day simple moving average is $134.60. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $7.69 billion, a PE ratio of 22.12, a PEG ratio of 1.27 and a beta of 0.83.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The business had revenue of $844.10 million during the quarter, compared to the consensus estimate of $832.57 million. During the same quarter last year, the firm posted $1.33 EPS. The company's quarterly revenue was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, research analysts anticipate that Kirby Corporation will post 7.06 EPS for the current year.

Wall Street Analyst Weigh In

KEX has been the subject of several analyst reports. Wall Street Zen raised shares of Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. Citigroup lifted their price objective on shares of Kirby from $160.00 to $165.00 and gave the company a "buy" rating in a research report on Monday, July 13th. Bank of America boosted their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a research note on Wednesday, July 8th. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday. Finally, BTIG Research reiterated a "buy" rating and issued a $170.00 target price on shares of Kirby in a research note on Tuesday, July 14th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $162.20.

Insider Activity at Kirby

In other news, VP Ronald A. Dragg sold 1,726 shares of the firm's stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the sale, the vice president owned 8,673 shares in the company, valued at approximately $1,257,671.73. This trade represents a 16.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Christian G. O'neil sold 11,287 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The disclosure for this sale is available in the SEC filing. Insiders sold 17,691 shares of company stock valued at $2,579,036 over the last three months. Company insiders own 0.80% of the company's stock.

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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