Rokos Capital Management LLP Buys New Holdings in Kirby Corporation $KEX

Key Points

• Rokos Capital Management initiated a Kirby position by purchasing 74,590 shares worth approximately $9.9 million, while institutional investors collectively own 96.15% of the company.
• Analyst sentiment remains positive: six analysts rate Kirby a Buy and one rates it Hold, producing a “Moderate Buy” consensus and an average price target of $162.20.
• Kirby exceeded quarterly expectations with adjusted EPS of $1.50 versus the $1.41 consensus and revenue of $844.1 million, up 7.4% year over year; however, company insiders sold 17,691 shares worth about $2.58 million during the quarter.

Rokos Capital Management LLP purchased a new position in Kirby Corporation (NYSE:KEX - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 74,590 shares of the shipping company's stock, valued at approximately $9,910,000. Rokos Capital Management LLP owned about 0.14% of Kirby as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in KEX. Goldman Sachs Group Inc. raised its holdings in shares of Kirby by 30.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock valued at $49,632,000 after purchasing an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in Kirby by 152.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company's stock valued at $18,441,000 after buying an additional 110,320 shares during the last quarter. Cerity Partners LLC increased its holdings in Kirby by 68.6% in the second quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company's stock valued at $2,279,000 after buying an additional 8,174 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Kirby by 3.5% during the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company's stock worth $10,951,000 after acquiring an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Kirby by 52,000.0% during the second quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company's stock worth $236,000 after purchasing an additional 2,080 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Insiders Place Their Bets

In other news, VP William Matthew Woodruff sold 678 shares of the stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $147.37, for a total transaction of $99,916.86. Following the completion of the transaction, the vice president directly owned 9 shares of the company's stock, valued at approximately $1,326.33. This represents a 98.69% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Amy D. Husted sold 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the completion of the sale, the vice president directly owned 10,814 shares of the company's stock, valued at $1,572,680.02. This represents a 27.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,691 shares of company stock worth $2,579,036 over the last quarter. 0.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KEX. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Kirby from a "hold" rating to a "buy" rating in a research note on Saturday, June 13th. BTIG Research reissued a "buy" rating and set a $170.00 price target on shares of Kirby in a report on Tuesday, July 14th. Bank of America boosted their price target on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Finally, Citigroup upped their price objective on Kirby from $160.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $162.20.

Kirby Stock Down 2.5%

KEX stock opened at $145.00 on Tuesday. The stock has a market capitalization of $7.76 billion, a PE ratio of 22.31, a price-to-earnings-growth ratio of 1.30 and a beta of 0.83. The company has a fifty day moving average of $141.49 and a 200-day moving average of $136.04. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.59. Kirby Corporation has a one year low of $79.51 and a one year high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly 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 business had revenue of $844.10 million for the quarter, compared to analyst estimates of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The business's revenue was up 7.4% compared to the same quarter last year. During the same period 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, analysts expect that Kirby Corporation will post 7.06 EPS for the current year.

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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