World Kinect Corporation $WKC Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC reduced its position in shares of World Kinect Corporation (NYSE:WKC) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,811 shares of the company’s stock after selling 896 shares during the period. Janney Montgomery Scott LLC owned about 0.10% of World Kinect worth $1,667,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas raised its holdings in World Kinect by 94.5% in the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock valued at $946,000 after acquiring an additional 16,211 shares in the last quarter. Natixis Advisors LLC acquired a new stake in shares of World Kinect during the first quarter worth $405,000. CWA Asset Management Group LLC acquired a new stake in shares of World Kinect during the first quarter worth $490,000. Entropy Technologies LP acquired a new stake in shares of World Kinect during the first quarter worth $310,000. Finally, Strs Ohio bought a new position in shares of World Kinect during the first quarter worth about $740,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have issued reports on WKC shares. Zacks Research raised shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Weiss Ratings reissued a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday. Morgan Stanley lowered their target price on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Finally, Raymond James Financial reissued an “outperform” rating and set a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $28.75.

World Kinect Price Performance

NYSE WKC opened at $24.78 on Friday. The company has a 50 day simple moving average of $26.01 and a 200-day simple moving average of $26.69. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $1.38 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.64.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.11. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. Equities research 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 announced a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. World Kinect’s payout ratio is -10.48%.

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.