Corebridge Financial Inc. Has $6.87 Million Stock Position in Kirby Co. (NYSE:KEX)

Corebridge Financial Inc. lessened its holdings in Kirby Co. (NYSE:KEX) by 5.1% during the fourth quarter, HoldingsChannel reports. The fund owned 64,953 shares of the shipping company’s stock after selling 3,517 shares during the quarter. Corebridge Financial Inc.’s holdings in Kirby were worth $6,872,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in KEX. Artemis Investment Management LLP raised its stake in shares of Kirby by 112.0% in the fourth quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after purchasing an additional 202,272 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Kirby during the fourth quarter worth $18,749,000. DAVENPORT & Co LLC purchased a new stake in Kirby in the 4th quarter valued at $16,390,000. Allspring Global Investments Holdings LLC boosted its holdings in Kirby by 92.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company’s stock worth $23,247,000 after acquiring an additional 106,411 shares during the last quarter. Finally, Empire Life Investments Inc. bought a new stake in shares of Kirby in the 4th quarter worth $10,442,000. Institutional investors own 96.15% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Stifel Nicolaus dropped their price target on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th. Finally, Bank of America decreased their price target on Kirby from $133.00 to $123.00 and set a “buy” rating for the company in a research report on Friday. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $124.75.

Kirby Stock Down 2.1 %

KEX opened at $100.77 on Friday. Kirby Co. has a twelve month low of $93.63 and a twelve month high of $132.21. The company’s 50-day moving average price is $104.15 and its two-hundred day moving average price is $113.63. The stock has a market cap of $5.73 billion, a price-to-earnings ratio of 20.52, a PEG ratio of 0.88 and a beta of 1.18. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. As a group, equities analysts expect that Kirby Co. will post 6.57 earnings per share for the current year.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now directly owns 5,545 shares of the company’s stock, valued at $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.90% of the stock is owned by corporate insiders.

About Kirby

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.