Vanguard Group Inc. Decreases Stock 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 holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 1.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position 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 valued at $179,000 after purchasing an additional 2,925 shares in the last quarter. EP Wealth Advisors LLC boosted its position 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 valued at $209,000 after purchasing an additional 1,104 shares in the last quarter. Eukles Asset Management boosted its position 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 valued at $221,000 after purchasing an additional 1,165 shares in the last quarter. Quantinno Capital Management LP bought a new stake in shares of World Kinect during the 4th quarter valued at about $224,000. Finally, Cetera Investment Advisers bought a new stake in shares of World Kinect during the 4th quarter valued at about $242,000. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Down 0.6%

Shares of WKC stock traded down $0.1650 during trading hours on Monday, reaching $26.6050. The company had a trading volume of 472,504 shares, compared to its average volume of 654,837. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70. 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 business has a fifty day simple moving average of $27.48 and a 200-day simple moving average of $27.23. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -3.49, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates 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 company had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. On average, research analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

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

Analyst Ratings Changes

WKC has been the topic of several recent research reports. Morgan Stanley cut their price target on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $29.40.

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.