Voya Investment Management LLC Sells 14,978,043 Shares of World Kinect Corporation $WKC

Voya Investment Management LLC lowered its stake in World Kinect Corporation (NYSE:WKC) by 99.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 75,235 shares of the company’s stock after selling 14,978,043 shares during the quarter. Voya Investment Management LLC owned approximately 0.13% of World Kinect worth $2,134,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Strs Ohio bought a new position in World Kinect in the 1st quarter worth about $740,000. Acadian Asset Management LLC bought a new stake in shares of World Kinect during the 1st quarter valued at about $1,946,000. Intech Investment Management LLC boosted its position in shares of World Kinect by 95.5% during the 1st quarter. Intech Investment Management LLC now owns 47,437 shares of the company’s stock valued at $1,345,000 after acquiring an additional 23,176 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of World Kinect by 18.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock valued at $6,262,000 after acquiring an additional 34,807 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of World Kinect by 2.0% during the 1st quarter. Empowered Funds LLC now owns 322,130 shares of the company’s stock valued at $9,136,000 after acquiring an additional 6,461 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WKC. Raymond James Financial reiterated an “outperform” rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Morgan Stanley dropped their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, World Kinect presently has an average rating of “Reduce” and a consensus price target of $28.75.

World Kinect Trading Down 1.9%

World Kinect stock opened at $26.42 on Monday. 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 business’s fifty day simple moving average is $26.66 and its two-hundred day simple moving average is $26.92. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -3.46, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping 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 the consensus estimate of $9.32 billion. As a group, equities analysts predict that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend is Tuesday, September 30th. World Kinect’s dividend payout ratio is presently -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.