Hsbc Holdings PLC Sells 66,905 Shares of Kirby Corporation $KEX

Hsbc Holdings PLC trimmed its holdings in Kirby Corporation (NYSE:KEX) by 43.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,477 shares of the shipping company’s stock after selling 66,905 shares during the period. Hsbc Holdings PLC’s holdings in Kirby were worth $9,573,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Maseco LLP bought a new position in shares of Kirby during the 4th quarter valued at about $27,000. Rothschild Investment LLC raised its holdings in Kirby by 2,600.0% during the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after buying an additional 260 shares during the period. Smartleaf Asset Management LLC lifted its stake in Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after buying an additional 258 shares in the last quarter. Parallel Advisors LLC lifted its stake in Kirby by 50.0% in the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after buying an additional 134 shares in the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in shares of Kirby in the third quarter valued at approximately $56,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insider Buying and Selling

In other news, COO Christian G. O’neil sold 11,287 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Ronald A. Dragg sold 1,726 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $145.01, for a total value of $250,287.26. Following the completion of the sale, the vice president directly owned 8,673 shares of the company’s stock, valued at approximately $1,257,671.73. The trade was a 16.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 17,691 shares of company stock valued at $2,579,036. 0.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on KEX shares. Citigroup increased their price objective on shares of Kirby from $147.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. BTIG Research increased their target price on Kirby from $160.00 to $170.00 and gave the stock a “buy” rating in a report on Thursday, April 30th. Weiss Ratings raised Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, May 29th. Evercore restated an “outperform” rating and issued a $158.00 price target on shares of Kirby in a report on Friday, May 1st. Finally, Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Six research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $146.20.

Kirby Stock Down 1.3%

Shares of KEX stock opened at $136.76 on Friday. The firm’s fifty day moving average price is $143.81 and its two-hundred day moving average price is $131.59. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The firm has a market capitalization of $7.32 billion, a P/E ratio of 21.04, a PEG ratio of 1.42 and a beta of 0.81.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.09. The company had revenue of $844.10 million during the quarter, compared to the consensus estimate of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The company’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.33 EPS. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, equities analysts predict that Kirby Corporation will post 6.99 EPS for the current fiscal year.

Kirby 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.