Sanctuary Advisors LLC Cuts Stock Holdings in World Kinect Co. (NYSE:WKC)

Sanctuary Advisors LLC decreased its stake in shares of World Kinect Co. (NYSE:WKC) by 46.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,069 shares of the company’s stock after selling 18,316 shares during the period. Sanctuary Advisors LLC’s holdings in World Kinect were worth $603,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of WKC. Pinnacle Associates Ltd. purchased a new position in shares of World Kinect during the third quarter valued at approximately $1,523,000. Janney Montgomery Scott LLC bought a new stake in World Kinect during the third quarter worth $1,887,000. QRG Capital Management Inc. bought a new stake in World Kinect during the third quarter worth $434,000. Principal Financial Group Inc. lifted its holdings in World Kinect by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after acquiring an additional 56,952 shares during the period. Finally, Hara Capital LLC bought a new stake in World Kinect during the third quarter worth $76,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus dropped their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, World Kinect presently has an average rating of “Hold” and a consensus price target of $29.80.

World Kinect Price Performance

WKC opened at $29.91 on Friday. The stock has a 50-day moving average price of $28.14 and a 200-day moving average price of $28.59. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.74 billion, a P/E ratio of 28.22, a PEG ratio of 0.89 and a beta of 1.27.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. The company had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. Equities analysts predict that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders 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 yield of 2.27%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s payout ratio is 64.15%.

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.