Hsbc Holdings PLC Sells 6,019 Shares of Kirby Corporation $KEX

Hsbc Holdings PLC decreased its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 60.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,863 shares of the shipping company's stock after selling 6,019 shares during the quarter. Hsbc Holdings PLC's holdings in Kirby were worth $390,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Colonial Trust Co SC lifted its holdings in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after purchasing an additional 189 shares during the period. Opal Wealth Advisors LLC bought a new stake in Kirby in the first quarter worth about $28,000. KBC Group NV bought a new stake in Kirby in the first quarter worth about $32,000. UMB Bank n.a. raised its position in Kirby by 147.2% in the first quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock worth $35,000 after acquiring an additional 209 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after acquiring an additional 114 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KEX. Bank of America dropped their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday. Zacks Research upgraded Kirby from a "strong sell" rating to a "hold" rating in a report on Wednesday. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $121.00.

Kirby Stock Down 1.2%

NYSE:KEX traded down $1.11 on Friday, hitting $89.09. 1,380,780 shares of the company's stock traded hands, compared to its average volume of 730,034. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33. Kirby Corporation has a 1 year low of $83.94 and a 1 year high of $132.21. The firm has a 50-day moving average price of $106.13 and a 200-day moving average price of $104.28. The company has a market cap of $4.97 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.92 and a beta of 1.09.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.08. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company had revenue of $855.46 million for the quarter, compared to analysts' expectations of $851.94 million. During the same quarter in the previous year, the business posted $1.43 EPS. The business's revenue for the quarter was up 3.8% on a year-over-year basis. Equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

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.