Hancock Whitney Corp Lowers Stake in Kirby Co. (KEX)

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Hancock Whitney Corp decreased its stake in shares of Kirby Co. (NYSE:KEX) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,750 shares of the shipping company’s stock after selling 8,769 shares during the period. Hancock Whitney Corp owned approximately 0.15% of Kirby worth $5,911,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in Kirby by 8.9% during the third quarter. JPMorgan Chase & Co. now owns 1,019,019 shares of the shipping company’s stock worth $83,815,000 after buying an additional 83,099 shares in the last quarter. Janus Henderson Group PLC lifted its position in Kirby by 71.3% during the third quarter. Janus Henderson Group PLC now owns 13,700 shares of the shipping company’s stock worth $1,127,000 after buying an additional 5,700 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Kirby by 3.5% during the third quarter. Bank of New York Mellon Corp now owns 578,797 shares of the shipping company’s stock worth $47,608,000 after buying an additional 19,584 shares in the last quarter. BlackRock Inc. lifted its position in Kirby by 2.0% during the third quarter. BlackRock Inc. now owns 5,063,560 shares of the shipping company’s stock worth $416,479,000 after buying an additional 101,346 shares in the last quarter. Finally, American International Group Inc. lifted its position in Kirby by 1.3% during the third quarter. American International Group Inc. now owns 109,631 shares of the shipping company’s stock worth $9,017,000 after buying an additional 1,400 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

KEX stock opened at $75.23 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.80 and a debt-to-equity ratio of 0.44. The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 25.94, a price-to-earnings-growth ratio of 1.17 and a beta of 1.08. Kirby Co. has a 52-week low of $60.63 and a 52-week high of $94.05.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, January 31st. The shipping company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.07. The company had revenue of $721.49 million during the quarter, compared to analysts’ expectations of $698.14 million. Kirby had a return on equity of 5.43% and a net margin of 2.64%. As a group, equities research analysts anticipate that Kirby Co. will post 3.57 earnings per share for the current fiscal year.

KEX has been the topic of a number of analyst reports. ValuEngine upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Friday, November 30th. TheStreet downgraded Kirby from a “b-” rating to a “c” rating in a research report on Thursday, January 31st. Wells Fargo & Co set a $74.00 price objective on Kirby and gave the stock a “hold” rating in a research report on Saturday, February 2nd. BTIG Research initiated coverage on Kirby in a research report on Friday, January 25th. They set a “neutral” rating and a $67.40 price objective on the stock. Finally, Zacks Investment Research downgraded Kirby from a “hold” rating to a “sell” rating in a research report on Tuesday, February 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company’s stock. Kirby currently has an average rating of “Hold” and a consensus target price of $87.28.

In other Kirby news, Director Richard Ross Stewart sold 2,500 shares of the firm’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $71.54, for a total transaction of $178,850.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Monte J. Miller sold 6,000 shares of the firm’s stock in a transaction on Friday, February 1st. The stock was sold at an average price of $74.35, for a total value of $446,100.00. Following the sale, the director now directly owns 22,758 shares of the company’s stock, valued at approximately $1,692,057.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,876 shares of company stock valued at $2,081,911. 1.80% of the stock is owned by insiders.

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Kirby Profile

Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges 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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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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