Kirby Corporation $KEX Shares Sold by Jennison Associates LLC

Key Points

• Jennison Associates LLC cut its stake in Kirby by 25.8%, selling 254,586 shares and finishing the quarter with 733,882 shares worth about $80.86 million.
• Operational strength: Kirby beat Q1 estimates with $1.50 EPS (vs. $1.41) and $844.1M revenue, raised FY‑2026 EPS guidance to $6.65–$7.28, repurchased $52.7M of stock and completed a $95.8M purchase of 23 barges.
• Ownership and sentiment: Insiders sold 71,495 shares this quarter while institutional investors hold ~96.15% of the stock; analysts have a consensus "Moderate Buy" with an average target of $142.20 (shares trading near $150.50).

Jennison Associates LLC decreased its stake in Kirby Corporation (NYSE:KEX - Free Report) by 25.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 733,882 shares of the shipping company's stock after selling 254,586 shares during the period. Jennison Associates LLC owned approximately 1.35% of Kirby worth $80,859,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. State of Wyoming lifted its stake in shares of Kirby by 12.8% in the third quarter. State of Wyoming now owns 1,003 shares of the shipping company's stock valued at $84,000 after purchasing an additional 114 shares during the period. Xponance Inc. lifted its stake in shares of Kirby by 1.8% in the third quarter. Xponance Inc. now owns 6,809 shares of the shipping company's stock valued at $568,000 after purchasing an additional 118 shares during the period. Procyon Advisors LLC lifted its stake in shares of Kirby by 4.6% in the fourth quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company's stock valued at $301,000 after purchasing an additional 121 shares during the period. M&T Bank Corp lifted its stake in shares of Kirby by 2.5% in the fourth quarter. M&T Bank Corp now owns 5,179 shares of the shipping company's stock valued at $571,000 after purchasing an additional 125 shares during the period. Finally, Huntington National Bank lifted its stake in shares of Kirby by 21.0% in the third quarter. Huntington National Bank now owns 932 shares of the shipping company's stock valued at $78,000 after purchasing an additional 162 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analyst Weigh In

KEX has been the subject of several recent analyst reports. BTIG Research raised their price objective on shares of Kirby from $160.00 to $170.00 and gave the company a "buy" rating in a research note on Thursday. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Wolfe Research restated an "outperform" rating and set a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. Weiss Ratings cut shares of Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, April 16th. Finally, Evercore restated an "outperform" rating and set a $138.00 target price on shares of Kirby in a research report on Monday, March 9th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $142.20.

Kirby Stock Performance

Shares of KEX opened at $150.50 on Friday. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27. The stock has a market cap of $8.07 billion, a P/E ratio of 23.78, a PEG ratio of 1.46 and a beta of 0.83. The company has a 50-day moving average of $136.19 and a two-hundred day moving average of $120.32. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.41 by $0.09. The company had revenue of $844.10 million during the quarter, compared to analysts' expectations of $832.57 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The firm's quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.33 earnings per share. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, research analysts predict that Kirby Corporation will post 6.81 EPS for the current fiscal year.

Insiders Place Their Bets

In other Kirby news, VP Amy D. Husted sold 11,667 shares of Kirby stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $129.33, for a total value of $1,508,893.11. Following the completion of the sale, the vice president directly owned 14,814 shares of the company's stock, valued at approximately $1,915,894.62. The trade was a 44.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christian G. O'neil sold 11,287 shares of Kirby stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the completion of the sale, the chief operating officer directly owned 11,287 shares of the company's stock, valued at $1,493,721.58. The trade was a 50.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 71,495 shares of company stock valued at $9,226,173. 0.80% of the stock is currently owned by insiders.

Key Headlines Impacting Kirby

Here are the key news stories impacting Kirby this week:

• Positive Sentiment: Q1 results beat expectations — Kirby reported $1.50 EPS (vs. ~$1.42 consensus) and $844.1M revenue (revs +7.4% YoY), showing operational strength this quarter. Kirby Corporation Announces First Quarter 2026 Results
• Positive Sentiment: Management raised FY 2026 EPS growth guidance to 5%–15% (up from 0%–12%) and set an EPS range of $6.65–$7.28, signaling confidence in underlying demand. Kirby Corporation Announces First Quarter 2026 Results
• Positive Sentiment: Capital allocation: Kirby repurchased $52.7M of stock in Q1 and completed a $95.8M acquisition of 23 barges (including specialty units), supporting fleet growth and shareholder returns. Kirby Corporation Announces First Quarter 2026 Results
• Positive Sentiment: Analyst reaction: BTIG raised its price target to $170 and reiterated a Buy rating, providing third‑party validation of upside versus current levels. Benzinga
• Neutral Sentiment: Street commentary: Seeking Alpha notes inland pricing strengthening, a positive demand signal, but calls out fuel cost exposure and OEM timing issues that could cause quarter-to-quarter variability. Kirby signals 2026 EPS up 5% to up 15% as inland pricing strengthens despite fuel and OEM timing headwinds
• Neutral Sentiment: Earnings call / transcript available for detail on forward drivers and risks — useful if you want management tone on demand, fuel, and capex timing. Kirby Corporation (KEX) Q1 2026 Earnings Call Transcript
• Negative Sentiment: Mixed guidance nuance: while growth guidance was raised, the FY EPS range midpoint sits near (or slightly under) consensus (~$6.86), and management highlighted fuel and OEM timing headwinds — a combination that can temper upside and explain intraday selling pressure. Kirby signals 2026 EPS up 5% to up 15% as inland pricing strengthens despite fuel and OEM timing headwinds

About Kirby

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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