SG Americas Securities LLC Reduces Holdings in World Kinect Co. (NYSE:WKC)

SG Americas Securities LLC lowered its position in World Kinect Co. (NYSE:WKC) by 50.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,139 shares of the company’s stock after selling 32,202 shares during the quarter. SG Americas Securities LLC owned about 0.05% of World Kinect worth $857,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in World Kinect in the 3rd quarter worth about $138,806,000. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect in the fourth quarter worth approximately $50,707,000. Charles Schwab Investment Management Inc. lifted its stake in shares of World Kinect by 0.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock worth $42,379,000 after acquiring an additional 4,201 shares during the last quarter. Geode Capital Management LLC boosted its holdings in World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after acquiring an additional 22,077 shares during the period. Finally, Principal Financial Group Inc. grew its position in World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after acquiring an additional 56,952 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus downgraded World Kinect from a “buy” rating to a “hold” rating and decreased their target price for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, World Kinect has an average rating of “Hold” and an average price target of $30.20.

World Kinect Stock Down 0.2 %

Shares of NYSE WKC opened at $28.82 on Wednesday. The stock has a 50 day moving average price of $28.08 and a 200 day moving average price of $28.32. The firm has a market capitalization of $1.67 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 0.93 and a beta of 1.28. World Kinect Co. has a 52-week low of $21.38 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.36%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s payout ratio is 30.22%.

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.