Kirby Corporation $KEX Stock Position Reduced by Lecap Asset Management Ltd.

Key Points

• Lecap Asset Management Ltd. has reduced its stake in Kirby Corporation (NYSE: KEX) by 75.3%, leaving it with 4,068 shares worth approximately $461,000.
• Multiple institutional investors, such as Brooklyn Investment Group and GAMMA Investing LLC, have recently either increased or reduced their holdings in Kirby, indicating a dynamic investment environment with 96.15% of the stock being owned by institutional investors.
• Analysts have a mixed outlook on Kirby, with target prices ranging from $91.00 to $125.00 and a consensus rating of "Moderate Buy", reflecting a generally optimistic sentiment despite varying ratings.

Lecap Asset Management Ltd. cut its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 75.3% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,068 shares of the shipping company's stock after selling 12,407 shares during the period. Lecap Asset Management Ltd.'s holdings in Kirby were worth $461,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Brooklyn Investment Group grew its position in Kirby by 40.7% during 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 in the last quarter. Brown Advisory Inc. grew its position in Kirby by 0.3% during the first quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock valued at $3,697,000 after purchasing an additional 117 shares in the last quarter. Parallel Advisors LLC grew its position in Kirby by 49.4% during the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company's stock valued at $42,000 after purchasing an additional 121 shares in the last quarter. GAMMA Investing LLC lifted its stake in Kirby by 21.9% in the second quarter. GAMMA Investing LLC now owns 819 shares of the shipping company's stock valued at $93,000 after acquiring an additional 147 shares during the last quarter. Finally, Blue Trust Inc. lifted its stake in Kirby by 28.7% in the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock valued at $67,000 after acquiring an additional 149 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Citigroup assumed coverage on shares of Kirby in a research note on Monday, September 22nd. They issued a "neutral" rating and a $91.00 target price for the company. Bank of America reduced their target price on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a research note on Wednesday, September 3rd. Weiss Ratings reiterated a "hold (c+)" rating on shares of Kirby in a research note on Saturday, September 27th. BTIG Research reiterated a "buy" rating and issued a $125.00 target price on shares of Kirby in a research note on Thursday, September 18th. Finally, Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $114.50.

Kirby Trading Down 0.9%

NYSE:KEX opened at $82.95 on Friday. Kirby Corporation has a 12 month low of $81.90 and a 12 month high of $132.21. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.87 and a beta of 1.00. 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 company's 50 day moving average is $93.69 and its 200-day moving average is $102.19.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, beating analysts' consensus estimates 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 analyst estimates of $851.94 million. During the same quarter last year, the firm posted $1.43 earnings per share. The company's quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

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.

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