Sherbrooke Park Advisers LLC Takes Position in Kirby Co. (NYSE:KEX)

Sherbrooke Park Advisers LLC purchased a new position in Kirby Co. (NYSE:KEX - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 5,554 shares of the shipping company's stock, valued at approximately $588,000.

Other hedge funds have also bought and sold shares of the company. Norges Bank bought a new stake in Kirby in the fourth quarter worth about $74,293,000. First Trust Advisors LP grew its stake in shares of Kirby by 69.7% during the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after acquiring an additional 359,770 shares during the last quarter. Franklin Resources Inc. lifted its position in Kirby by 848.5% during the 4th quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after acquiring an additional 352,144 shares during the period. Artemis Investment Management LLP raised its holdings in shares of Kirby by 112.0% during the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock worth $40,504,000 after purchasing an additional 202,272 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Kirby during the 4th quarter worth approximately $18,749,000. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Price Performance

KEX stock traded down $0.98 during mid-day trading on Thursday, reaching $106.93. 159,345 shares of the company's stock were exchanged, compared to its average volume of 609,774. The company has a market cap of $6.00 billion, a price-to-earnings ratio of 21.78, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. The stock's 50 day moving average is $99.77 and its 200 day moving average is $107.49. 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 Co. has a 12-month low of $83.94 and a 12-month high of $132.21.

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

Wall Street Analyst Weigh In

KEX has been the topic of a number of analyst reports. Stifel Nicolaus dropped their price objective on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Bank of America increased their price target on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a research report on Friday, May 16th.

About Kirby

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.