Victory Capital Management Inc. Sells 52,019 Shares of World Kinect Corporation (NYSE:WKC)

Victory Capital Management Inc. cut its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 11.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 395,112 shares of the company's stock after selling 52,019 shares during the quarter. Victory Capital Management Inc. owned about 0.70% of World Kinect worth $11,205,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. HighTower Advisors LLC raised its stake in shares of World Kinect by 12.6% in the fourth quarter. HighTower Advisors LLC now owns 10,868 shares of the company's stock worth $299,000 after purchasing an additional 1,219 shares during the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of World Kinect by 64.6% in the 4th quarter. Teacher Retirement System of Texas now owns 17,161 shares of the company's stock valued at $472,000 after acquiring an additional 6,733 shares during the last quarter. Sei Investments Co. increased its holdings in World Kinect by 49.9% during the fourth quarter. Sei Investments Co. now owns 32,860 shares of the company's stock valued at $904,000 after buying an additional 10,944 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in World Kinect in the fourth quarter valued at $1,137,000. Finally, LPL Financial LLC boosted its holdings in shares of World Kinect by 16.0% during the 4th quarter. LPL Financial LLC now owns 42,448 shares of the company's stock worth $1,168,000 after purchasing an additional 5,861 shares during the last quarter. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Performance

WKC stock traded down $0.16 during trading on Friday, reaching $28.19. The stock had a trading volume of 300,621 shares, compared to its average volume of 710,695. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.70. The stock's 50 day moving average is $28.19 and its two-hundred day moving average is $27.54. The firm has a market cap of $1.60 billion, a PE ratio of 117.44, a PEG ratio of 1.35 and a beta of 1.35.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The business had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $10.47 billion. World Kinect had a return on equity of 6.46% and a net margin of 0.05%. The business's revenue was down 13.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.20 per share. This is a boost from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.84%. World Kinect's dividend payout ratio (DPR) is presently 333.33%.

Analysts Set New Price Targets

Separately, Bank of America lowered their target price 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 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.