Hennessy Advisors Inc. Sells 164,200 Shares of World Kinect Co. (NYSE:WKC)

Hennessy Advisors Inc. cut its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 8.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,679,034 shares of the company's stock after selling 164,200 shares during the quarter. World Kinect comprises about 1.6% of Hennessy Advisors Inc.'s investment portfolio, making the stock its 13th largest position. Hennessy Advisors Inc. owned approximately 2.96% of World Kinect worth $47,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in WKC. Savant Capital LLC raised its position in shares of World Kinect by 16.5% in the 4th quarter. Savant Capital LLC now owns 7,573 shares of the company's stock worth $208,000 after buying an additional 1,071 shares during the period. Rhumbline Advisers raised its position in World Kinect by 7.3% during the fourth quarter. Rhumbline Advisers now owns 208,980 shares of the company's stock valued at $5,749,000 after acquiring an additional 14,233 shares in the last quarter. Hussman Strategic Advisors Inc. acquired a new position in World Kinect during the 4th quarter valued at $578,000. Centricity Wealth Management LLC bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $74,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $516,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Stifel Nicolaus decreased their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Bank of America reduced their price target on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th.

World Kinect Trading Up 1.6%

Shares of WKC stock traded up $0.44 during mid-day trading on Monday, hitting $28.43. The company's stock had a trading volume of 220,763 shares, compared to its average volume of 775,963. World Kinect Co. has a 52 week low of $22.71 and a 52 week high of $31.71. The company has a market cap of $1.61 billion, a PE ratio of 26.83, a P/E/G ratio of 0.89 and a beta of 1.35. The company's fifty day simple moving average is $26.16 and its 200-day simple moving average is $27.41. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $10.47 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. The business's revenue was down 13.7% on a year-over-year basis. As a group, equities research analysts expect that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.81%. This is a boost from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, June 17th. World Kinect's payout ratio is presently 333.33%.

World Kinect Company 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.