World Kinect Corporation (NYSE:WKC) Shares Sold by Moran Wealth Management LLC

Moran Wealth Management LLC lessened its position in shares of World Kinect Corporation (NYSE:WKC) by 4.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 79,926 shares of the company’s stock after selling 3,486 shares during the quarter. Moran Wealth Management LLC owned 0.14% of World Kinect worth $2,267,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of WKC. SummerHaven Investment Management LLC raised its stake in shares of World Kinect by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock valued at $881,000 after buying an additional 509 shares during the last quarter. QRG Capital Management Inc. boosted its stake in shares of World Kinect by 3.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock worth $400,000 after buying an additional 517 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of World Kinect by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock worth $893,000 after buying an additional 707 shares during the last quarter. Vident Advisory LLC grew its holdings in World Kinect by 4.4% during the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock worth $491,000 after acquiring an additional 748 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp raised its position in World Kinect by 3.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company’s stock valued at $885,000 after acquiring an additional 947 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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 research report on Friday, April 25th.

World Kinect Stock Down 0.5%

WKC opened at $27.33 on Thursday. The company has a fifty day moving average of $26.77 and a two-hundred day moving average of $27.38. The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of 113.88, a PEG ratio of 1.18 and a beta of 1.35. World Kinect Corporation has a fifty-two week low of $22.71 and a fifty-two week high of $31.71. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.00 and a current ratio of 1.15.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. The firm had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a return on equity of 6.46% and a net margin of 0.05%. World Kinect’s revenue for the quarter was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 EPS. On average, research analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th will be given a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, June 17th. This is a boost from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.93%. World Kinect’s payout ratio is 333.33%.

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.