World Kinect Co. (NYSE:WKC) Shares Sold by Hsbc Holdings PLC

Hsbc Holdings PLC lessened its position in World Kinect Co. (NYSE:WKC) by 2.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,968 shares of the company’s stock after selling 1,358 shares during the period. Hsbc Holdings PLC owned about 0.08% of World Kinect worth $1,294,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in shares of World Kinect in the second quarter valued at approximately $65,000. Assetmark Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at approximately $96,000. PNC Financial Services Group Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at approximately $148,000. Privium Fund Management UK Ltd acquired a new position in shares of World Kinect in the second quarter valued at approximately $208,000. Finally, Skyline Advisors Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at approximately $214,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

World Kinect Price Performance

World Kinect stock opened at $30.81 on Friday. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $31.70. The firm has a fifty day moving average of $28.06 and a 200-day moving average of $26.32. The firm has a market capitalization of $1.85 billion, a P/E ratio of 33.13, a PEG ratio of 1.06 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same period in the previous year, the company earned $0.48 EPS. World Kinect’s revenue was down .1% on a year-over-year basis. As a group, analysts predict that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Monday, September 30th. World Kinect’s payout ratio is currently 73.12%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WKC. Morgan Stanley lowered shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. JPMorgan Chase & Co. upped their price target on shares of World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Stifel Nicolaus dropped their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Finally, Bank of America upped their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.40.

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.