World Kinect Corporation $WKC Shares Sold by First Trust Advisors LP

First Trust Advisors LP lowered its stake in shares of World Kinect Corporation (NYSE:WKC) by 2.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,357,862 shares of the company’s stock after selling 34,581 shares during the quarter. First Trust Advisors LP’s holdings in World Kinect were worth $38,495,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of WKC. First Horizon Advisors Inc. grew its position in shares of World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after buying an additional 652 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new stake in World Kinect in the first quarter valued at $32,000. Quarry LP acquired a new position in World Kinect in the first quarter valued at $38,000. GAMMA Investing LLC grew its holdings in shares of World Kinect by 27.6% during the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after purchasing an additional 344 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of World Kinect by 14.5% during the second quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock worth $113,000 after purchasing an additional 503 shares in the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

World Kinect stock opened at $24.28 on Wednesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99. The business has a 50 day simple moving average of $24.92 and a 200-day simple moving average of $26.41. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.54. The stock has a market capitalization of $1.35 billion, a PE ratio of -3.14, a price-to-earnings-growth ratio of 1.25 and a beta of 1.15.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the business earned $0.62 earnings per share. Equities analysts predict that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 16th. Stockholders of record on Monday, December 15th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Monday, December 15th. World Kinect’s payout ratio is -10.34%.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a report on Monday, November 24th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, World Kinect currently has an average rating of “Reduce” and an average price target of $28.75.

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.