Victory Capital Management Inc. Sells 8,115 Shares of Kirby Co. (NYSE:KEX)

Victory Capital Management Inc. cut its holdings in shares of Kirby Co. (NYSE:KEX – Get Rating) by 1.7% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 473,555 shares of the shipping company’s stock after selling 8,115 shares during the period. Victory Capital Management Inc. owned 0.79% of Kirby worth $30,556,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in Kirby by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 99,767 shares of the shipping company’s stock valued at $7,202,000 after acquiring an additional 1,756 shares in the last quarter. American Century Companies Inc. acquired a new stake in Kirby in the first quarter valued at approximately $201,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Kirby in the first quarter valued at approximately $392,000. MetLife Investment Management LLC boosted its stake in Kirby by 33.4% in the first quarter. MetLife Investment Management LLC now owns 38,864 shares of the shipping company’s stock valued at $2,806,000 after acquiring an additional 9,734 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Kirby by 1.9% in the first quarter. Rhumbline Advisers now owns 164,306 shares of the shipping company’s stock valued at $11,861,000 after acquiring an additional 3,103 shares in the last quarter. 94.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 2,000 shares of the firm’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $69.65, for a total transaction of $139,300.00. Following the completion of the transaction, the chief executive officer now owns 82,006 shares of the company’s stock, valued at $5,711,717.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Kirby news, CEO David W. Grzebinski sold 3,000 shares of Kirby stock in a transaction on Wednesday, March 1st. The shares were sold at an average price of $72.47, for a total value of $217,410.00. Following the completion of the transaction, the chief executive officer now owns 84,006 shares of the company’s stock, valued at $6,087,914.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 2,000 shares of Kirby stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $69.65, for a total transaction of $139,300.00. Following the completion of the transaction, the chief executive officer now directly owns 82,006 shares of the company’s stock, valued at approximately $5,711,717.90. The disclosure for this sale can be found here. Insiders sold a total of 5,750 shares of company stock valued at $412,383 over the last 90 days. Insiders own 1.50% of the company’s stock.

Kirby Trading Down 1.0 %

Shares of Kirby stock opened at $71.78 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.95 and a quick ratio of 1.18. The firm has a fifty day moving average price of $69.39 and a 200 day moving average price of $68.45. Kirby Co. has a 1 year low of $55.03 and a 1 year high of $76.34. The stock has a market cap of $4.31 billion, a PE ratio of 29.66, a price-to-earnings-growth ratio of 1.70 and a beta of 1.27.

Kirby (NYSE:KEX – Get Rating) last issued its earnings results on Thursday, April 27th. The shipping company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.03. Kirby had a net margin of 4.98% and a return on equity of 4.99%. The firm had revenue of $750.44 million during the quarter, compared to analysts’ expectations of $723.67 million. During the same quarter last year, the company posted $0.29 earnings per share. The firm’s revenue was up 22.9% compared to the same quarter last year. Equities research analysts predict that Kirby Co. will post 3.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on KEX shares. Stifel Nicolaus raised their target price on shares of Kirby from $83.00 to $85.00 in a research note on Friday, April 28th. Bank of America raised their price target on shares of Kirby from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Stephens raised their price target on shares of Kirby from $85.00 to $90.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. BTIG Research raised their price target on shares of Kirby from $80.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, March 6th. Finally, StockNews.com began coverage on shares of Kirby in a report on Thursday. They issued a “hold” rating for the company. One analyst has rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $86.75.

About Kirby

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Kirby Corp. is a tank barge operator, which engages in transporting bulk liquid products. It transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals. It operates through Marine Transportation and Distribution and Services segments. The Marine Transportation segment provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system.