Mackenzie Financial Corp Grows Position in Kirby Corporation (NYSE:KEX)

Key Points

• Mackenzie Financial Corp increased its position in Kirby Corporation by 27.9% in Q1, owning a total of 11,683 shares valued at approximately $1,180,000.
• Other hedge funds, including LPL Financial LLC and JPMorgan Chase & Co., have also increased their stakes in Kirby, with institutional investors owning 96.15% of the stock.
• Kirby Corporation reported a quarterly EPS of $1.67, surpassing estimates, and its revenue grew 3.8% compared to the previous year.

Mackenzie Financial Corp boosted its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 27.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 11,683 shares of the shipping company's stock after buying an additional 2,548 shares during the period. Mackenzie Financial Corp's holdings in Kirby were worth $1,180,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Colonial Trust Co SC grew its stake in shares of Kirby by 295.3% in the 4th quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after acquiring an additional 189 shares in the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Kirby in the 1st quarter worth $28,000. KBC Group NV bought a new stake in shares of Kirby in the 1st quarter worth $32,000. UMB Bank n.a. grew its stake in shares of Kirby by 147.2% in the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Finally, Versant Capital Management Inc bought a new stake in shares of Kirby in the 1st quarter worth $44,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

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.

Kirby Stock Down 0.6%

Shares of NYSE KEX traded down $0.57 during trading on Friday, hitting $99.72. The stock had a trading volume of 676,505 shares, compared to its average volume of 802,967. The company has a market capitalization of $5.59 billion, a PE ratio of 18.85, a PEG ratio of 0.91 and a beta of 1.01. The firm has a fifty day moving average of $112.63 and a two-hundred day moving average of $105.88. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.58 and a quick ratio of 0.96. Kirby Corporation has a 12 month low of $83.94 and a 12 month high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. The company had revenue of $855.46 million during the quarter, compared to analyst estimates of $851.94 million. Kirby had a net margin of 9.25% and a return on equity of 10.07%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.43 earnings per share. As a group, equities research analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal 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.