Kirby Co. (NYSE:KEX) Shares Sold by Jennison Associates LLC

Jennison Associates LLC lessened its holdings in Kirby Co. (NYSE:KEX - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,347,089 shares of the shipping company's stock after selling 26,622 shares during the quarter. Jennison Associates LLC owned approximately 2.28% of Kirby worth $105,720,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in KEX. Vanguard Group Inc. grew its position in shares of Kirby by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 6,015,915 shares of the shipping company's stock worth $498,118,000 after buying an additional 64,420 shares during the period. VELA Investment Management LLC raised its stake in Kirby by 11.3% in the 4th quarter. VELA Investment Management LLC now owns 139,848 shares of the shipping company's stock valued at $10,975,000 after acquiring an additional 14,201 shares during the period. International Assets Investment Management LLC bought a new stake in Kirby in the 4th quarter valued at about $1,337,000. Vaughan Nelson Investment Management L.P. increased its position in shares of Kirby by 3.4% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 738,377 shares of the shipping company's stock valued at $57,947,000 after buying an additional 24,040 shares during the period. Finally, Campbell & CO Investment Adviser LLC increased its position in shares of Kirby by 168.1% during the third quarter. Campbell & CO Investment Adviser LLC now owns 10,891 shares of the shipping company's stock valued at $902,000 after buying an additional 6,828 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Trading Up 2.8 %

Shares of NYSE KEX traded up $2.80 during trading hours on Tuesday, hitting $101.94. 623,881 shares of the company traded hands, compared to its average volume of 396,793. The stock has a market capitalization of $5.97 billion, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.62 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. The company's 50 day moving average price is $91.51 and its 200 day moving average price is $83.09. Kirby Co. has a 12 month low of $66.42 and a 12 month high of $102.55.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.03 by $0.01. Kirby had a return on equity of 7.12% and a net margin of 7.21%. The business had revenue of $799.18 million for the quarter, compared to the consensus estimate of $778.70 million. During the same quarter in the prior year, the company earned $0.67 EPS. The business's revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts anticipate that Kirby Co. will post 4.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

KEX has been the subject of several recent analyst reports. BTIG Research boosted their price objective on Kirby from $100.00 to $115.00 and gave the stock a "buy" rating in a report on Wednesday, April 3rd. StockNews.com raised Kirby from a "hold" rating to a "buy" rating in a research note on Tuesday, April 16th. Stifel Nicolaus raised their price objective on Kirby from $100.00 to $118.00 and gave the company a "buy" rating in a research report on Friday. Wolfe Research started coverage on Kirby in a research report on Monday. They issued an "outperform" rating and a $126.00 price target for the company. Finally, Stephens reaffirmed an "overweight" rating and issued a $105.00 price target on shares of Kirby in a research report on Monday, February 5th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price of $116.00.

Insider Buying and Selling at Kirby

In related news, VP Scott P. Miller sold 1,828 shares of the business's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total transaction of $145,508.80. Following the completion of the sale, the vice president now directly owns 1,000 shares in the company, valued at $79,600. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kirby news, VP Scott P. Miller sold 487 shares of the company's stock in a transaction dated Thursday, April 11th. The stock was sold at an average price of $99.78, for a total transaction of $48,592.86. Following the sale, the vice president now owns 1,000 shares in the company, valued at approximately $99,780. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Scott P. Miller sold 1,828 shares of the firm's stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $79.60, for a total value of $145,508.80. Following the transaction, the vice president now owns 1,000 shares in the company, valued at approximately $79,600. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 56,418 shares of company stock valued at $4,932,521. 1.40% of the stock is owned by company insiders.

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.