Advantage Alpha Capital Partners LP Sells 3,916 Shares of Kirby Corporation $KEX
Advantage Alpha Capital Partners LP reduced its stake in Kirby Corporation (NYSE:KEX) by 5.5% in Q1, selling 3,916 shares. The firm now holds 67,895 shares, representing 1.7% of its portfolio. Other hedge funds also adjusted their positions, with Brooklyn Investment Group increasing its stake by 40.7%. Kirby's stock opened at $97.3250, with a market cap of $5.43 billion. The company reported $1.67 EPS for the last quarter, exceeding estimates. Bank of America raised its price target for Kirby from $116.00 to $125.00, maintaining a "buy" rating.
Advantage Alpha Capital Partners LP trimmed its position in Kirby Corporation (NYSE:KEX - Free Report) by 5.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 67,895 shares of the shipping company's stock after selling 3,916 shares during the period. Kirby accounts for approximately 1.7% of Advantage Alpha Capital Partners LP's investment portfolio, making the stock its 6th biggest holding. Advantage Alpha Capital Partners LP owned about 0.12% of Kirby worth $6,858,000 at the end of the most recent reporting period.
- This Freight Stock Just Got an Upgrade and Institutional Buyers
Other hedge funds have also recently made changes to their positions in the company. Brooklyn Investment Group grew its position in Kirby by 40.7% during the 1st quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after purchasing an additional 114 shares during the period. Brown Advisory Inc. grew its position in shares of Kirby by 0.3% during the 1st quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock valued at $3,697,000 after acquiring an additional 117 shares during the period. Mercer Global Advisors Inc. ADV grew its position in shares of Kirby by 1.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock valued at $1,379,000 after acquiring an additional 124 shares during the period. Stifel Financial Corp grew its position in shares of Kirby by 0.5% during the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock valued at $3,073,000 after acquiring an additional 138 shares during the period. Finally, Blue Trust Inc. lifted its stake in Kirby by 28.7% in the 1st quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock valued at $67,000 after buying an additional 149 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.
Kirby Stock Down 0.3%
KEX stock opened at $97.3250 on Friday. The firm has a market cap of $5.43 billion, a PE ratio of 18.40, a PEG ratio of 0.98 and a beta of 1.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The firm's 50 day moving average price is $110.03 and its 200-day moving average price is $105.22. Kirby Corporation has a one year low of $83.94 and a one year high of $132.21.
Kirby (NYSE:KEX - Get Free Report) last posted its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same quarter last year, the firm earned $1.43 EPS. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. On average, equities research analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Bank of America raised their price target on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Kirby has an average rating of "Buy" and a consensus target price of $130.00.
Read Our Latest Stock Report on KEX
Kirby Profile
(Free Report)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.
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