Kirby Co. (NYSE:KEX) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 21.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,135 shares of the shipping company's stock after selling 2,423 shares during the quarter. Mackenzie Financial Corp's holdings in Kirby were worth $966,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Empowered Funds LLC acquired a new position in Kirby in the 4th quarter valued at about $25,000. Colonial Trust Co SC raised its position in shares of Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after buying an additional 189 shares during the last quarter. LGT Financial Advisors LLC acquired a new position in shares of Kirby in the fourth quarter valued at approximately $63,000. R Squared Ltd acquired a new position in shares of Kirby in the fourth quarter valued at approximately $76,000. Finally, Neo Ivy Capital Management acquired a new position in shares of Kirby in the fourth quarter valued at approximately $111,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

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

Kirby Stock Up 1.3%

KEX traded up $1.41 during trading hours on Tuesday, reaching $113.24. 235,815 shares of the stock traded hands, compared to its average volume of 544,502. The firm's fifty day simple moving average is $101.06 and its two-hundred day simple moving average is $106.32. The company has a market cap of $6.35 billion, a price-to-earnings ratio of 23.06, a PEG ratio of 0.88 and a beta of 0.91. Kirby Co. has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. The firm had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The firm's revenue was down 2.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.19 earnings per share. As a group, analysts forecast that Kirby Co. will post 6.57 earnings per share 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.