Hsbc Holdings PLC Has $220,000 Holdings in World Kinect Corporation $WKC

Hsbc Holdings PLC lessened its stake in World Kinect Corporation (NYSE:WKC) by 46.8% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,759 shares of the company’s stock after selling 6,834 shares during the quarter. Hsbc Holdings PLC’s holdings in World Kinect were worth $220,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in World Kinect in the first quarter valued at about $32,000. PNC Financial Services Group Inc. raised its stake in World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after purchasing an additional 2,925 shares in the last quarter. EP Wealth Advisors LLC grew its position in World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock valued at $209,000 after acquiring an additional 1,104 shares during the last quarter. Eukles Asset Management grew its position in World Kinect by 17.6% in the first quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock valued at $221,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in World Kinect in the fourth quarter valued at about $224,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Performance

NYSE:WKC opened at $26.58 on Friday. The stock has a market cap of $1.48 billion, a P/E ratio of -3.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock’s 50-day moving average is $27.31 and its 200-day moving average is $27.18. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70.

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on WKC. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Morgan Stanley decreased their target price on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus price target of $29.40.

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.