Hsbc Holdings PLC Increases Stock Position in Kirby Corporation $KEX

Key Points

• Hsbc Holdings PLC increased its Kirby position by 136.7% in the second quarter, bringing its holdings to 21,319 shares valued at approximately $2.9 million. Institutional investors collectively own 96.15% of Kirby’s stock.
• Analyst sentiment remains generally positive: Kirby has a “Moderate Buy” consensus rating, with five Buy ratings and two Holds, and an average price target of $163.20.
• Kirby exceeded quarterly expectations, reporting $1.67 in EPS versus the $1.63 estimate and $922.4 million in revenue, up 7.8% year over year. Shares recently opened at $138.73.

Hsbc Holdings PLC increased its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 136.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,319 shares of the shipping company's stock after acquiring an additional 12,311 shares during the quarter. Hsbc Holdings PLC's holdings in Kirby were worth $2,899,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of KEX. Goldman Sachs Group Inc. raised its holdings in shares of Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock valued at $49,632,000 after buying an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Kirby by 152.7% during 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 buying an additional 110,320 shares during the last quarter. Cerity Partners LLC grew its holdings 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 buying an additional 8,174 shares during the last quarter. California Public Employees Retirement System increased its position in Kirby by 3.5% in the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company's stock valued at $10,951,000 after acquiring an additional 3,292 shares during the period. Finally, NewEdge Advisors LLC increased its position in 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 acquiring an additional 2,080 shares during the period. Hedge funds and other institutional investors own 96.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup increased their price objective on Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. BTIG Research reissued a "buy" rating and issued a $170.00 target price on shares of Kirby in a report on Wednesday, July 29th. Weiss Ratings cut Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 31st. Wall Street Zen downgraded Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Bank of America lifted their price objective on shares of Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Five investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $163.20.

Kirby Price Performance

Shares of NYSE KEX opened at $138.73 on Friday. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $139.17 and its 200 day moving average price is $138.96. Kirby Corporation has a 52 week low of $79.51 and a 52 week high of $157.69. The stock has a market cap of $7.32 billion, a price-to-earnings ratio of 21.34, a PEG ratio of 1.24 and a beta of 0.86.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.63 by $0.04. The company had revenue of $922.40 million during the quarter, compared to analysts' expectations of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, research analysts forecast that Kirby Corporation will post 7.11 earnings per share for the current fiscal year.

About Kirby

Kirby Corporation is a marine transportation and industrial services company headquartered in Houston, Texas. Through its marine transportation operations, the company moves bulk liquid products, including petroleum products, chemicals, and agricultural commodities, primarily in the United States.

Kirby operates one of the largest fleets of inland and coastal tank barges in the United States. Its marine transportation network serves the Mississippi River System, the Gulf Intracoastal Waterway, the Gulf of Mexico, and other U.S.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.