World Kinect Corporation $WKC Stock Holdings Decreased by Hennessy Advisors Inc.

Key Points

• Hennessy Advisors Inc. reduced its stake in World Kinect Corporation by 9.9%, now holding approximately 1.4% of the company with $42.87 million in value after selling 166,900 shares.
• World Kinect's shares received mixed ratings from analysts, including a recent upgrade from Zacks Research to a "strong-buy" but a downgrade in price target from Morgan Stanley to $26.00.
• The company declared a quarterly dividend of $0.20, yielding approximately 3.1%, with a payout ratio of -10.48%.

Hennessy Advisors Inc. lowered its stake in World Kinect Corporation (NYSE:WKC - Free Report) by 9.9% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 1,512,134 shares of the company's stock after selling 166,900 shares during the period. World Kinect accounts for approximately 1.4% of Hennessy Advisors Inc.'s holdings, making the stock its 16th biggest holding. Hennessy Advisors Inc. owned 2.67% of World Kinect worth $42,869,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its position in shares of World Kinect by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 31,646 shares of the company's stock worth $897,000 after purchasing an additional 597 shares during the last quarter. State of Alaska Department of Revenue increased its position in shares of World Kinect by 1.8% in the 2nd quarter. State of Alaska Department of Revenue now owns 86,734 shares of the company's stock worth $2,458,000 after purchasing an additional 1,553 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of World Kinect by 11.0% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 59,062 shares of the company's stock worth $1,674,000 after purchasing an additional 5,833 shares during the last quarter. Counterpoint Mutual Funds LLC bought a new stake in shares of World Kinect in the 2nd quarter worth about $750,000. Finally, Kapitalo Investimentos Ltda bought a new stake in shares of World Kinect during the 2nd quarter valued at about $707,000. Institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on WKC shares. Zacks Research raised shares of World Kinect from a "hold" rating to a "strong-buy" rating in a research report on Monday, September 29th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of World Kinect in a research report on Saturday, September 27th. Morgan Stanley lowered their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $28.75.

World Kinect Price Performance

NYSE WKC opened at $26.10 on Friday. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.64. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of -3.42, a price-to-earnings-growth ratio of 1.18 and a beta of 1.31. The company has a 50-day moving average price of $26.20 and a two-hundred day moving average price of $26.80.

World Kinect (NYSE:WKC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping 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 firm had revenue of $9.04 billion during the quarter, compared to analysts' expectations of $9.32 billion. Analysts forecast that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Tuesday, September 30th. World Kinect's dividend payout ratio is currently -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.

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