Kirby Corporation $KEX Shares Sold by Comerica Bank

Comerica Bank trimmed its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 36.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,812 shares of the shipping company's stock after selling 10,782 shares during the period. Comerica Bank's holdings in Kirby were worth $1,900,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in KEX. Colonial Trust Co SC increased 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 worth $27,000 after buying an additional 189 shares during the period. Opal Wealth Advisors LLC purchased a new stake in shares of Kirby during the first quarter worth approximately $28,000. KBC Group NV purchased a new stake in shares of Kirby during the first quarter worth approximately $32,000. UMB Bank n.a. increased its stake 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 period. Finally, Brooklyn Investment Group increased its stake in shares of Kirby by 40.7% during the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after buying an additional 114 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Kirby Stock Performance

Shares of Kirby stock opened at $94.94 on Wednesday. The firm has a market capitalization of $5.30 billion, a P/E ratio of 17.95, a P/E/G ratio of 0.97 and a beta of 1.09. Kirby Corporation has a 52 week low of $83.94 and a 52 week high of $132.21. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The firm's 50 day moving average is $107.61 and its two-hundred day moving average is $104.66.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.59 by $0.08. The company had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.43 earnings per share. Research analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal year.

About Kirby

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.

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