Mackenzie Financial Corp Boosts Stake in Kirby Co. (NYSE:KEX)

Mackenzie Financial Corp lifted its stake in Kirby Co. (NYSE:KEX) by 10.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,705 shares of the shipping company’s stock after purchasing an additional 1,087 shares during the period. Mackenzie Financial Corp’s holdings in Kirby were worth $919,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its holdings in Kirby by 30.9% in the 3rd quarter. FMR LLC now owns 2,100,068 shares of the shipping company’s stock worth $173,886,000 after buying an additional 495,541 shares during the period. RK Capital Management LLC bought a new position in shares of Kirby during the 3rd quarter valued at about $8,412,000. Assenagon Asset Management S.A. boosted its holdings in shares of Kirby by 273.5% during the 3rd quarter. Assenagon Asset Management S.A. now owns 104,329 shares of the shipping company’s stock valued at $8,638,000 after purchasing an additional 76,393 shares during the last quarter. Scout Investments Inc. bought a new position in shares of Kirby during the 3rd quarter valued at about $6,191,000. Finally, Vanguard Group Inc. boosted its holdings 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 valued at $498,118,000 after purchasing an additional 64,420 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have commented on KEX. Stifel Nicolaus increased their price objective on shares of Kirby from $100.00 to $118.00 and gave the company a “buy” rating in a report on Friday, April 19th. BTIG Research increased their price objective on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Wolfe Research began coverage on shares of Kirby in a report on Monday. They set an “outperform” rating and a $126.00 price objective for the company. Stephens reaffirmed an “overweight” rating and issued a $105.00 price target on shares of Kirby in a report on Monday, February 5th. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $116.00.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 18,000 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $85.44, for a total value of $1,537,920.00. Following the sale, the chief executive officer now directly owns 66,399 shares of the company’s stock, valued at approximately $5,673,130.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Ronald A. Dragg sold 1,413 shares of the firm’s stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $84.68, for a total transaction of $119,652.84. Following the transaction, the vice president now directly owns 10,651 shares of the company’s stock, valued at $901,926.68. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO David W. Grzebinski sold 18,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $85.44, for a total transaction of $1,537,920.00. Following the transaction, the chief executive officer now directly owns 66,399 shares in the company, valued at $5,673,130.56. The disclosure for this sale can be found here. Insiders have sold 56,418 shares of company stock valued at $4,932,521 in the last ninety days. 1.50% of the stock is owned by company insiders.

Kirby Stock Up 10.9 %

Shares of NYSE:KEX opened at $112.10 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.01 and a debt-to-equity ratio of 0.32. Kirby Co. has a 12 month low of $66.42 and a 12 month high of $114.35. The company has a 50-day moving average price of $92.72 and a 200 day moving average price of $83.56. The company has a market cap of $6.56 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 1.72 and a beta of 1.21.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, February 1st. The shipping company reported $1.04 EPS for the quarter, beating analysts’ consensus estimates of $1.03 by $0.01. Kirby had a net margin of 7.21% and a return on equity of 7.12%. The firm had revenue of $799.18 million during the quarter, compared to the consensus estimate of $778.70 million. During the same quarter last year, the firm earned $0.67 EPS. The firm’s revenue for the quarter was up 9.5% compared to the same quarter last year. As a group, equities research analysts predict that Kirby Co. will post 4.93 earnings per share for the current year.

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.