ThornTree Capital Partners LP lowered its position in shares of Kirby Co. (NYSE:KEX) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 189,426 shares of the shipping company’s stock after selling 4,100 shares during the period. Kirby makes up approximately 5.4% of ThornTree Capital Partners LP’s portfolio, making the stock its 10th largest position. ThornTree Capital Partners LP owned about 0.32% of Kirby worth $12,493,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP increased its holdings in shares of Kirby by 12.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,174,026 shares of the shipping company’s stock worth $143,380,000 after buying an additional 246,064 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in Kirby by 4.7% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 259,255 shares of the shipping company’s stock valued at $17,098,000 after purchasing an additional 11,550 shares during the last quarter. Commonwealth Bank of Australia increased its holdings in Kirby by 58.0% in the 3rd quarter. Commonwealth Bank of Australia now owns 19,918 shares of the shipping company’s stock valued at $1,312,000 after purchasing an additional 7,314 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Kirby in the 3rd quarter valued at approximately $3,366,000. Finally, Wells Fargo & Company MN increased its holdings in Kirby by 44.2% in the 3rd quarter. Wells Fargo & Company MN now owns 198,911 shares of the shipping company’s stock valued at $13,118,000 after purchasing an additional 60,976 shares during the last quarter. Institutional investors and hedge funds own 96.59% of the company’s stock.
Shares of Kirby Co. (NYSE:KEX) traded down $0.40 during mid-day trading on Tuesday, reaching $66.20. 639,800 shares of the company’s stock traded hands, compared to its average volume of 422,156. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.93 and a quick ratio of 1.23. Kirby Co. has a 52 week low of $59.25 and a 52 week high of $74.50. The stock has a market cap of $3,975.82, a PE ratio of 31.56, a PEG ratio of 4.14 and a beta of 1.04.
Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a net margin of 5.88% and a return on equity of 4.48%. The company had revenue of $541.30 million during the quarter, compared to analysts’ expectations of $517.54 million. During the same quarter last year, the company posted $0.59 EPS. The firm’s revenue was up 24.5% compared to the same quarter last year. sell-side analysts predict that Kirby Co. will post 2.01 earnings per share for the current fiscal year.
Several analysts recently weighed in on the stock. Stifel Nicolaus reiterated a “hold” rating and issued a $67.00 target price on shares of Kirby in a report on Friday, November 3rd. Jefferies Group reiterated a “buy” rating and issued a $85.00 target price on shares of Kirby in a report on Monday, October 16th. Finally, BidaskClub upgraded shares of Kirby from a “strong sell” rating to a “sell” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $75.40.
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Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.
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