Hsbc Holdings PLC Sells 77,469 Shares of Kirby Corporation $KEX

Key Points

• HSBC Holdings cut its Kirby stake by 89.6% in the first quarter, selling 77,469 shares and retaining 9,008 shares valued at approximately $1.2 million.
• Institutional ownership remains high at 96.15%, with Goldman Sachs, First Trust Advisors, and AllianceBernstein among major investors that increased their positions.
• Kirby exceeded quarterly earnings and revenue estimates, reporting $1.50 in EPS and $844.1 million in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $162.20, above the stock’s reported $145.77 price.

Hsbc Holdings PLC trimmed its stake in Kirby Corporation (NYSE:KEX - Free Report) by 89.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,008 shares of the shipping company's stock after selling 77,469 shares during the period. Hsbc Holdings PLC's holdings in Kirby were worth $1,206,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in Kirby by 92.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock worth $287,803,000 after buying an additional 1,251,700 shares during the last quarter. First Trust Advisors LP raised its holdings in shares of Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock worth $248,640,000 after acquiring an additional 1,178,963 shares during the last quarter. Alliancebernstein L.P. boosted its position in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after buying an additional 959,209 shares during the last quarter. Norges Bank bought a new position in Kirby in the 4th quarter worth approximately $81,355,000. Finally, Appian Way Asset Management LP grew its stake in Kirby by 335.8% in the 3rd quarter. Appian Way Asset Management LP now owns 675,546 shares of the shipping company's stock valued at $56,374,000 after buying an additional 520,535 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Performance

Kirby stock opened at $145.77 on Wednesday. The stock has a market cap of $7.80 billion, a P/E ratio of 22.43, a price-to-earnings-growth ratio of 1.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.59. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $157.69. The firm's fifty day moving average price is $141.47 and its 200-day moving average price is $136.20.

Kirby (NYSE:KEX - Get Free Report) last issued its earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $844.10 million during the quarter, compared to analyst estimates of $832.57 million. Kirby had a return on equity of 10.62% and a net margin of 10.51%.Kirby's revenue for the quarter was up 7.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.33 earnings per share. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, equities research analysts expect that Kirby Corporation will post 7.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on KEX. Citigroup boosted their price objective on Kirby from $160.00 to $165.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Bank of America upped their price target on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Kirby from a "hold" rating to a "buy" rating in a research report on Saturday, June 13th. Evercore reaffirmed an "outperform" rating and set a $158.00 price objective on shares of Kirby in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 17th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $162.20.

Insider Buying and Selling at Kirby

In related news, VP Amy D. Husted sold 4,000 shares of Kirby stock in a transaction on Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the transaction, the vice president owned 10,814 shares in the company, valued at $1,572,680.02. This trade represents a 27.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William Matthew Woodruff sold 678 shares of the business's stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total transaction of $99,916.86. Following the completion of the sale, the vice president directly owned 9 shares of the company's stock, valued at $1,326.33. This represents a 98.69% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,691 shares of company stock worth $2,579,036 in the last quarter. 0.80% of the stock is currently owned by company insiders.

About Kirby

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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