Geode Capital Management LLC Has $107.65 Million Position in Kirby Corporation $KEX

Geode Capital Management LLC reduced its position in shares of Kirby Corporation (NYSE:KEX) by 0.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 976,732 shares of the shipping company’s stock after selling 8,169 shares during the period. Geode Capital Management LLC owned approximately 1.80% of Kirby worth $107,647,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Maseco LLP acquired a new position in Kirby in the 4th quarter valued at $27,000. FNY Investment Advisers LLC acquired a new position in Kirby in the 3rd quarter valued at $56,000. Huntington National Bank raised its holdings in Kirby by 21.0% in the 3rd quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock valued at $78,000 after acquiring an additional 162 shares in the last quarter. Fifth Third Bancorp raised its holdings in Kirby by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock valued at $81,000 after acquiring an additional 114 shares in the last quarter. Finally, State of Wyoming raised its holdings in Kirby by 12.8% in the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock valued at $84,000 after acquiring an additional 114 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have weighed in on KEX. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a report on Friday, March 13th. Citigroup lifted their price objective on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, May 29th. BTIG Research lifted their price objective on Kirby from $160.00 to $170.00 and gave the company a “buy” rating in a report on Thursday, April 30th. Finally, Wall Street Zen cut Kirby from a “buy” rating to a “hold” rating in a report on Saturday, May 23rd. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $146.20.

Insiders Place Their Bets

In other news, VP William Matthew Woodruff sold 678 shares of Kirby stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total value of $99,916.86. Following the transaction, the vice president owned 9 shares in the company, valued at approximately $1,326.33. This trade represents a 98.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 11,287 shares of Kirby stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.93, for a total value of $1,647,111.91. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 17,691 shares of company stock worth $2,579,036. 0.80% of the stock is currently owned by company insiders.

Kirby Trading Down 1.1%

Shares of KEX opened at $141.09 on Friday. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69. The business’s fifty day moving average is $143.14 and its 200-day moving average is $128.48. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.59. The firm has a market cap of $7.55 billion, a price-to-earnings ratio of 21.71, a PEG ratio of 1.46 and a beta of 0.81.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.09. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The company had revenue of $844.10 million for the quarter, compared to analyst estimates of $832.57 million. During the same quarter last year, the company posted $1.33 EPS. The company’s revenue for the quarter was up 7.4% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. Equities analysts anticipate that Kirby Corporation will post 6.99 EPS for the current fiscal year.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.