AQR Capital Management LLC Has $52.44 Million Position in Kirby Corporation $KEX

Key Points

• AQR Capital Management LLC increased its holdings in Kirby Corporation by 90.4% in Q1, owning 527,789 shares worth $52.44 million at the end of the reporting period.
• Bank of America lowered its price target on Kirby from $110 to $107 while maintaining a "buy" rating, and the stock has an average target price of $121.00 with an overall rating of "Moderate Buy."
• Kirby Corporation reported a quarterly EPS of $1.67, exceeding analysts' estimates, with revenue of $855.46 million, marking a 3.8% increase year-over-year.

AQR Capital Management LLC increased its stake in Kirby Corporation (NYSE:KEX - Free Report) by 90.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 527,789 shares of the shipping company's stock after acquiring an additional 250,601 shares during the period. AQR Capital Management LLC owned approximately 0.94% of Kirby worth $52,441,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Colonial Trust Co SC increased its holdings in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after buying an additional 189 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Kirby during the first quarter worth about $28,000. KBC Group NV purchased a new position in shares of Kirby during the first quarter worth about $32,000. UMB Bank n.a. grew its holdings in shares of Kirby by 147.2% during the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after buying an additional 209 shares during the last quarter. Finally, Brooklyn Investment Group lifted its position in Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock valued at $40,000 after purchasing an additional 114 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Price Performance

KEX traded down $0.90 during trading on Wednesday, reaching $86.97. The stock had a trading volume of 947,268 shares, compared to its average volume of 656,197. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The stock has a 50 day moving average of $105.09 and a two-hundred day moving average of $104.03. The firm has a market capitalization of $4.85 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 0.91 and a beta of 1.09. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate 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 in the previous year, the business earned $1.43 EPS. The company's revenue was up 3.8% on a year-over-year basis. As a group, equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

KEX has been the topic of several research analyst reports. Bank of America decreased their price target on Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research note on Wednesday, September 3rd. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $121.00.

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.