Vanguard Group Inc. Lowers Holdings in World Kinect Co. (NYSE:WKC)

Vanguard Group Inc. lessened its stake in World Kinect Co. (NYSE:WKC) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 6,909,331 shares of the company’s stock after selling 125,588 shares during the quarter. Vanguard Group Inc. owned 0.12% of World Kinect worth $157,395,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WKC. GSA Capital Partners LLP acquired a new position in shares of World Kinect in the 4th quarter valued at $2,822,000. Comerica Bank purchased a new stake in shares of World Kinect during the 4th quarter worth about $1,353,000. Dean Capital Management purchased a new position in shares of World Kinect in the 4th quarter valued at about $750,000. Nomura Holdings Inc. acquired a new position in World Kinect in the 4th quarter worth about $8,913,000. Finally, Hudson Edge Investment Partners Inc. acquired a new position in World Kinect in the 4th quarter worth about $645,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Activity at World Kinect

In other news, Director Ken Bakshi sold 10,936 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the transaction, the director now directly owns 41,545 shares in the company, valued at approximately $999,988.15. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.90% of the stock is owned by corporate insiders.

World Kinect Price Performance

Shares of World Kinect stock opened at $25.74 on Friday. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97. The business has a 50 day simple moving average of $25.26 and a two-hundred day simple moving average of $24.44. The stock has a market capitalization of $1.54 billion, a P/E ratio of 27.68, a PEG ratio of 0.82 and a beta of 1.24. World Kinect Co. has a 12 month low of $17.69 and a 12 month high of $26.83.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, April 25th. The company reported $0.47 earnings per share for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The firm had revenue of $10.95 billion during the quarter, compared to analysts’ expectations of $12.29 billion. As a group, analysts predict that World Kinect Co. will post 2.3 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, June 17th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.64%. World Kinect’s payout ratio is presently 73.12%.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of recent analyst reports. Bank of America boosted their price objective on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research report on Thursday, March 14th. Raymond James upped their price objective on shares of World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and a consensus target price of $26.75.

World Kinect Company Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.