Hsbc Holdings PLC Sells 21,599 Shares of World Kinect Co. (NYSE:WKC)

Hsbc Holdings PLC reduced its position in World Kinect Co. (NYSE:WKC - Free Report) by 59.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,593 shares of the company's stock after selling 21,599 shares during the period. Hsbc Holdings PLC's holdings in World Kinect were worth $399,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WKC. QRG Capital Management Inc. grew its position in shares of World Kinect by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company's stock valued at $400,000 after purchasing an additional 517 shares in the last quarter. Highland Capital Management LLC grew its position in World Kinect by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company's stock worth $240,000 after buying an additional 547 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in World Kinect during the fourth quarter worth about $25,000. Mitsubishi UFJ Trust & Banking Corp increased its stake in World Kinect by 3.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock worth $885,000 after acquiring an additional 947 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of World Kinect in the 3rd quarter valued at about $31,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WKC has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Bank of America decreased their price target 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.

World Kinect Trading Up 1.4%

NYSE:WKC traded up $0.38 during trading hours on Tuesday, reaching $27.61. The company's stock had a trading volume of 103,405 shares, compared to its average volume of 773,265. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The firm has a market capitalization of $1.56 billion, a price-to-earnings ratio of 26.05, a PEG ratio of 0.89 and a beta of 1.34. The firm has a 50-day simple moving average of $26.18 and a 200-day simple moving average of $27.43. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the previous year, the company posted $0.47 EPS. World Kinect's revenue for the quarter was down 13.7% on a year-over-year basis. Research analysts expect that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Monday, March 31st. World Kinect's payout ratio is 283.33%.

Insider Activity at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the transaction, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. The trade was a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 3.20% of the stock is currently owned by company insiders.

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.