World Kinect Corporation $WKC Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. reduced its stake in World Kinect Corporation (NYSE:WKC) by 9.9% in the second quarter, HoldingsChannel reports. The fund owned 1,512,134 shares of the company’s stock after selling 166,900 shares during the quarter. World Kinect makes up 1.4% of Hennessy Advisors Inc.’s holdings, making the stock its 16th largest holding. Hennessy Advisors Inc.’s holdings in World Kinect were worth $42,869,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the stock. GAMMA Investing LLC lifted its stake in shares of World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after acquiring an additional 344 shares during the period. Cetera Investment Advisers lifted its stake in World Kinect by 5.1% during the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock valued at $262,000 after purchasing an additional 451 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in World Kinect by 1.7% during the first quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company’s stock valued at $881,000 after purchasing an additional 509 shares during the last quarter. Nisa Investment Advisors LLC lifted its stake in World Kinect by 0.8% during the first quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock valued at $1,799,000 after purchasing an additional 509 shares during the last quarter. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in World Kinect during the first quarter valued at approximately $32,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

World Kinect Stock Up 0.1%

WKC stock 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’s 50 day simple moving average is $26.20 and its 200-day simple moving average is $26.80. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. The firm has a market capitalization of $1.45 billion, a P/E ratio of -3.42, a P/E/G ratio of 1.18 and a beta of 1.31.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.11. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. As a group, equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date 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.