World Kinect Corporation (NYSE:WKC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp lowered its holdings in shares of World Kinect Corporation (NYSE:WKC) by 4.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 583,106 shares of the company’s stock after selling 27,104 shares during the period. Bank of New York Mellon Corp owned about 1.03% of World Kinect worth $16,537,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC raised its position in shares of World Kinect by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock valued at $881,000 after buying an additional 509 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of World Kinect by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock valued at $893,000 after purchasing an additional 707 shares during the period. Vident Advisory LLC boosted its stake in shares of World Kinect by 4.4% in the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock valued at $491,000 after purchasing an additional 748 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its holdings in World Kinect by 3.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company’s stock valued at $885,000 after acquiring an additional 947 shares in the last quarter. Finally, Mackenzie Financial Corp increased its position in shares of World Kinect by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 20,252 shares of the company’s stock worth $557,000 after purchasing an additional 990 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Bank of America dropped their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a research report on Friday, April 25th.

World Kinect Price Performance

Shares of NYSE:WKC opened at $28.09 on Friday. World Kinect Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. The company has a market cap of $1.59 billion, a PE ratio of 117.04, a P/E/G ratio of 1.33 and a beta of 1.35. The firm has a 50-day simple moving average of $28.12 and a 200 day simple moving average of $27.52.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $10.47 billion. World Kinect had a net margin of 0.05% and a return on equity of 6.46%. World Kinect’s quarterly revenue was down 13.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, sell-side analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were paid a $0.20 dividend. This is a positive change from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date was Tuesday, June 17th. World Kinect’s dividend payout ratio is currently 333.33%.

World Kinect 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.