World Kinect Corporation $WKC Shares Sold by First Trust Advisors LP

First Trust Advisors LP cut its holdings in shares of World Kinect Corporation (NYSE:WKC) by 2.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,357,862 shares of the company’s stock after selling 34,581 shares during the quarter. First Trust Advisors LP owned about 2.44% of World Kinect worth $38,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Horizon Advisors Inc. boosted its stake in World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after buying an additional 652 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of World Kinect in the 1st quarter worth approximately $32,000. Quarry LP purchased a new position in shares of World Kinect during the 1st quarter worth approximately $38,000. GAMMA Investing LLC boosted its position in shares of World Kinect by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after purchasing an additional 344 shares during the period. Finally, Parkside Financial Bank & Trust increased its holdings in World Kinect by 14.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock valued at $113,000 after purchasing an additional 503 shares during the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WKC has been the topic of a number of research reports. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research note on Monday, November 24th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, World Kinect has a consensus rating of “Reduce” and an average target price of $28.75.

World Kinect Stock Up 1.9%

Shares of World Kinect stock opened at $24.28 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.15 and a debt-to-equity ratio of 0.47. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.54. The company has a market capitalization of $1.35 billion, a P/E ratio of -3.14, a P/E/G ratio of 1.25 and a beta of 1.15. The company has a 50 day moving average of $24.92 and a 200 day moving average of $26.41.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The company’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.62 earnings per share. As a group, research analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Shareholders of record on Monday, December 15th will be paid a $0.20 dividend. The ex-dividend date is Monday, December 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. World Kinect’s dividend payout ratio (DPR) is currently -10.34%.

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.