Vanguard Group Inc. Has $192.03 Million Stock Position in World Kinect Corporation $WKC

Vanguard Group Inc. decreased its position in World Kinect Corporation (NYSE:WKC) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,771,299 shares of the company’s stock after selling 106,010 shares during the period. Vanguard Group Inc. owned about 11.96% of World Kinect worth $192,034,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Cetera Investment Advisers raised its holdings in World Kinect by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock valued at $262,000 after acquiring an additional 451 shares in the last quarter. SummerHaven Investment Management LLC raised its holdings in World Kinect by 1.7% in the 1st quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock valued at $881,000 after acquiring an additional 509 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in World Kinect by 0.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock valued at $1,799,000 after acquiring an additional 509 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in World Kinect by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock valued at $893,000 after acquiring an additional 707 shares in the last quarter. Finally, Vident Advisory LLC raised its holdings in World Kinect by 4.4% in the 4th quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock valued at $491,000 after acquiring an additional 748 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Bank of America cut their price target on World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a report on Friday, April 25th. Raymond James Financial reaffirmed an “outperform” rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Finally, Morgan Stanley lowered their price objective on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $29.40.

World Kinect Trading Up 0.8%

WKC stock opened at $25.8240 on Wednesday. The firm has a market cap of $1.43 billion, a P/E ratio of -3.38, a P/E/G ratio of 1.16 and a beta of 1.39. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The business’s 50 day moving average is $27.65 and its 200-day moving average is $27.29. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Equities analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were given a dividend of $0.20 per share. This is a boost from World Kinect’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. World Kinect’s dividend payout ratio is currently -10.48%.

About World Kinect

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.