BlueChip Wealth Advisors LLC Makes New $294,000 Investment in Matson, Inc. $MATX

Key Points

• BlueChip Wealth Advisors LLC has invested approximately $294,000 in Matson, Inc. by acquiring 2,640 shares in the 2nd quarter, according to its SEC filing.
• Several hedge funds have increased their stakes in Matson, with 84.76% of the stock owned by institutional investors and hedge funds.
• Analysts have a consensus rating of "Hold" for Matson's stock, with an average target price of $131.67, following recent rating changes from multiple research firms.

BlueChip Wealth Advisors LLC acquired a new position in shares of Matson, Inc. (NYSE:MATX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 2,640 shares of the shipping company's stock, valued at approximately $294,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ethic Inc. grew its holdings in Matson by 2.7% during the 1st quarter. Ethic Inc. now owns 4,092 shares of the shipping company's stock worth $537,000 after acquiring an additional 108 shares in the last quarter. Hohimer Wealth Management LLC grew its holdings in Matson by 5.2% during the 1st quarter. Hohimer Wealth Management LLC now owns 2,192 shares of the shipping company's stock worth $281,000 after acquiring an additional 109 shares in the last quarter. Xponance Inc. grew its holdings in Matson by 4.3% during the 1st quarter. Xponance Inc. now owns 2,767 shares of the shipping company's stock worth $355,000 after acquiring an additional 113 shares in the last quarter. Cerity Partners LLC grew its holdings in Matson by 4.6% during the 1st quarter. Cerity Partners LLC now owns 2,637 shares of the shipping company's stock worth $338,000 after acquiring an additional 117 shares in the last quarter. Finally, Hancock Whitney Corp grew its holdings in Matson by 8.3% during the 1st quarter. Hancock Whitney Corp now owns 1,730 shares of the shipping company's stock worth $222,000 after acquiring an additional 132 shares in the last quarter. 84.76% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, SVP Christopher A. Scott sold 1,044 shares of Matson stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $109.94, for a total value of $114,777.36. Following the sale, the senior vice president directly owned 13,441 shares in the company, valued at $1,477,703.54. This trade represents a 7.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.05% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

MATX has been the subject of several recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Matson in a report on Wednesday, October 8th. Zacks Research raised shares of Matson from a "strong sell" rating to a "hold" rating in a report on Tuesday, September 16th. Finally, Jefferies Financial Group reaffirmed a "hold" rating and issued a $115.00 price target on shares of Matson in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $131.67.

Matson Trading Up 0.4%

Shares of NYSE:MATX opened at $94.80 on Wednesday. The company has a market cap of $3.01 billion, a PE ratio of 6.41 and a beta of 1.21. The company's 50-day moving average price is $101.55 and its 200 day moving average price is $106.31. Matson, Inc. has a fifty-two week low of $86.97 and a fifty-two week high of $169.12. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.13.

Matson (NYSE:MATX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $2.92 earnings per share for the quarter, beating the consensus estimate of $2.18 by $0.74. The firm had revenue of $830.50 million for the quarter, compared to the consensus estimate of $727.30 million. Matson had a net margin of 14.26% and a return on equity of 18.90%. Matson's quarterly revenue was down 2.0% compared to the same quarter last year. During the same period last year, the firm posted $3.31 EPS. Sell-side analysts anticipate that Matson, Inc. will post 13.27 earnings per share for the current year.

Matson Company Profile

Matson, Inc, together with its subsidiaries, engages in the provision of ocean transportation and logistics services. It operates through two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Japan, Alaska, and Guam, as well as to other island economies in Micronesia.

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