Vanguard Group Inc. Has $192.03 Million Holdings in World Kinect Corporation $WKC

Key Points

• Vanguard Group Inc. reduced its stake in World Kinect Corporation by 1.5%, holding approximately 11.96% of the company worth $192.03 million after selling 106,010 shares.
• World Kinect recently declared a quarterly dividend increase to $0.20 per share, up from $0.17, resulting in an annualized yield of 3.1%.
• Analysts show mixed sentiments with Bank of America and Morgan Stanley reducing price targets while Raymond James maintains a better outlook, setting a target price of $33.00.

Vanguard Group Inc. decreased its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 1.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,771,299 shares of the company's stock after selling 106,010 shares during the period. Vanguard Group Inc. owned 11.96% of World Kinect worth $192,034,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of WKC. PNC Financial Services Group Inc. increased its holdings in shares of World Kinect by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after purchasing an additional 2,925 shares during the period. EP Wealth Advisors LLC increased its holdings in shares of World Kinect by 17.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock worth $209,000 after purchasing an additional 1,104 shares during the period. Eukles Asset Management increased its holdings in shares of World Kinect by 17.6% during the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock worth $221,000 after purchasing an additional 1,165 shares during the period. Quantinno Capital Management LP bought a new position in shares of World Kinect during the 4th quarter worth about $224,000. Finally, Cetera Investment Advisers bought a new position in shares of World Kinect during the 4th quarter worth about $242,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on WKC shares. Morgan Stanley dropped their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Bank of America dropped their price objective on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th. Finally, Raymond James Financial restated an "outperform" rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, World Kinect currently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Price Performance

Shares of World Kinect stock traded up $0.8830 during trading on Friday, hitting $26.7030. 556,841 shares of the company's stock traded hands, compared to its average volume of 642,026. 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's fifty day moving average price is $27.52 and its 200 day moving average price is $27.26. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.70. The company has a market cap of $1.48 billion, a PE ratio of 11.18, a PEG ratio of 1.17 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results 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. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The business had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. Analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. This is a boost from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. World Kinect's dividend payout ratio (DPR) is presently -10.48%.

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.