Kirby Corporation (NYSE:KEX) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its stake in Kirby Corporation (NYSE:KEX - Free Report) by 38.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,082 shares of the shipping company's stock after selling 90,373 shares during the quarter. Bessemer Group Inc. owned approximately 0.25% of Kirby worth $14,452,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Colonial Trust Co SC raised its holdings 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 valued at $27,000 after acquiring an additional 189 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in Kirby in the 1st quarter valued at about $28,000. UMB Bank n.a. increased its holdings in shares of Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after purchasing an additional 209 shares during the last quarter. Versant Capital Management Inc purchased a new position in Kirby during the first quarter worth approximately $44,000. Finally, LGT Financial Advisors LLC acquired a new position in Kirby during the fourth quarter worth $63,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Trading Down 1.3%

NYSE:KEX traded down $1.53 on Monday, hitting $113.46. The stock had a trading volume of 751,235 shares, compared to its average volume of 542,771. The company has a fifty day moving average price of $108.08 and a two-hundred day moving average price of $104.77. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The company has a quick ratio of 0.96, a current ratio of 1.58 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 22.47, a PEG ratio of 1.03 and a beta of 0.97.

Kirby (NYSE:KEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.06. The company had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. Kirby had a net margin of 9.02% and a return on equity of 9.81%. Kirby's revenue for the quarter was down 2.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. Equities research analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Bank of America raised their target price on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a research note on Friday, May 16th.

Kirby 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.