Allworth Financial LP Has $38,000 Position in World Kinect Co. (NYSE:WKC)

Allworth Financial LP decreased its position in World Kinect Co. (NYSE:WKC) by 30.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,338 shares of the company’s stock after selling 589 shares during the period. Allworth Financial LP’s holdings in World Kinect were worth $38,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Pacer Advisors Inc. bought a new stake in World Kinect in the 3rd quarter valued at approximately $138,806,000. Hennessy Advisors Inc. acquired a new position in World Kinect in the 4th quarter valued at $50,707,000. Charles Schwab Investment Management Inc. lifted its position 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 valued at $42,379,000 after acquiring an additional 4,201 shares during the period. Geode Capital Management LLC lifted its position in shares of World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock worth $42,358,000 after buying an additional 22,077 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after buying an additional 56,952 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Trading Down 1.5 %

Shares of World Kinect stock opened at $30.11 on Wednesday. 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. The stock has a 50 day moving average price of $27.94 and a two-hundred day moving average price of $28.52. The stock has a market capitalization of $1.75 billion, a PE ratio of 28.41, a price-to-earnings-growth ratio of 0.89 and a beta of 1.27.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. As a group, equities analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 64.15%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their price target 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. Two investment 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. According to MarketBeat.com, World Kinect currently has an average rating of “Hold” and a consensus price target of $29.80.

About World Kinect

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.