Hsbc Holdings PLC Buys Shares of 21,319 Kirby Corporation $KEX

Key Points

• HSBC Holdings acquired 21,319 shares of Kirby Corporation in the second quarter, valued at approximately $2.9 million. Institutional investors collectively own 96.15% of the company.
• Analysts maintain a favorable outlook, with six Buy ratings and one Hold rating, resulting in a consensus “Moderate Buy” rating and an average price target of $163.20.
• Kirby’s latest quarterly results exceeded expectations, with earnings of $1.67 per share and revenue of $922.4 million, up 7.8% year over year. The stock opened at $139.02, down 0.6%.

Hsbc Holdings PLC bought a new position in shares of Kirby Corporation (NYSE:KEX - Free Report) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 21,319 shares of the shipping company's stock, valued at approximately $2,899,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Goldman Sachs Group Inc. boosted its stake in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock worth $49,632,000 after acquiring an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Kirby by 152.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company's stock worth $18,441,000 after purchasing an additional 110,320 shares during the period. Cerity Partners LLC boosted its position in shares of Kirby by 68.6% during the second quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company's stock worth $2,279,000 after purchasing an additional 8,174 shares in the last quarter. California Public Employees Retirement System boosted its position in shares of Kirby by 3.5% during the second quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company's stock worth $10,951,000 after purchasing an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Kirby by 52,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company's stock valued at $236,000 after buying an additional 2,080 shares during the period. 96.15% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KEX. Wall Street Zen cut shares of Kirby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Bank of America raised their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. BTIG Research reiterated a "buy" rating and issued a $170.00 price target on shares of Kirby in a report on Wednesday, July 29th. Citigroup increased their price objective on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Kirby Trading Down 0.6%

NYSE:KEX opened at $139.02 on Friday. The company has a market cap of $7.34 billion, a P/E ratio of 21.39, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $157.69. The business has a 50 day moving average price of $138.41 and a two-hundred day moving average price of $137.88. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.63 by $0.04. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company had revenue of $922.40 million for the quarter, compared to the consensus estimate of $870.38 million. During the same period last year, the company earned $1.67 earnings per share. The firm's revenue was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, analysts expect that Kirby Corporation will post 7.07 EPS for the current fiscal year.

Kirby Company Profile

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.

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