World Kinect Corporation (NYSE:WKC) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 4.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 583,106 shares of the company's stock after selling 27,104 shares during the quarter. Bank of New York Mellon Corp owned 1.03% of World Kinect worth $16,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WKC. Invesco Ltd. boosted its position in World Kinect by 30.6% during the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock valued at $84,399,000 after acquiring an additional 719,631 shares in the last quarter. Millennium Management LLC boosted its position in World Kinect by 639.9% during the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after acquiring an additional 440,168 shares in the last quarter. EVR Research LP boosted its position in shares of World Kinect by 163.0% in the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after purchasing an additional 440,000 shares in the last quarter. Two Sigma Investments LP boosted its position in shares of World Kinect by 311.1% in the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock worth $7,176,000 after purchasing an additional 384,413 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its position in shares of World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock worth $17,378,000 after purchasing an additional 342,823 shares in the last quarter. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Up 0.8%

Shares of WKC stock traded up $0.22 on Tuesday, reaching $28.28. 386,785 shares of the stock were exchanged, compared to its average volume of 785,343. 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 twelve month low of $22.71 and a twelve month high of $31.71. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 117.81, a PEG ratio of 1.32 and a beta of 1.35. The business's 50 day moving average price is $28.13 and its 200 day moving average price is $27.52.

World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.46% and a net margin of 0.05%. The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $10.47 billion. During the same period in the prior year, the business posted $0.47 EPS. The company's revenue for the quarter was down 13.7% on a year-over-year basis. As a group, sell-side 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 disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 17th. This is a boost from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a dividend yield of 2.83%. World Kinect's payout ratio is currently 333.33%.

Analyst Upgrades and Downgrades

Separately, Bank of America lowered their price objective on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th.

World Kinect 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.