Hsbc Holdings PLC Has $399,000 Holdings in World Kinect Co. (NYSE:WKC)

Hsbc Holdings PLC lowered its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 59.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund 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.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. HHM Wealth Advisors LLC purchased a new stake in World Kinect in the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of World Kinect in the third quarter valued at about $31,000. Headlands Technologies LLC bought a new position in shares of World Kinect during the fourth quarter valued at about $48,000. Centricity Wealth Management LLC purchased a new position in World Kinect during the fourth quarter worth about $74,000. Finally, New Age Alpha Advisors LLC purchased a new stake in World Kinect in the 4th quarter valued at about $98,000. 97.06% of the stock is owned by institutional investors.

World Kinect Stock Up 0.5 %

WKC opened at $26.05 on Thursday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. World Kinect Co. has a one year low of $22.71 and a one year high of $31.71. The firm has a market capitalization of $1.48 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The company has a fifty day moving average price of $26.30 and a 200-day moving average price of $27.54.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $10.47 billion. During the same period in the prior year, the business earned $0.47 earnings per share. World Kinect's revenue for the quarter was down 13.7% compared to the same quarter last year. Equities research analysts expect that World Kinect Co. will post 2.56 earnings per share 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.61%. World Kinect's dividend payout ratio is presently 283.33%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Bank of America cut their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus reduced their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st.

Insider Buying and Selling 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 shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.20% of the company's stock.

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.

Want to see what other hedge funds are holding WKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for World Kinect Co. (NYSE:WKC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.