Janney Montgomery Scott LLC Lowers Stock Position in World Kinect Co. (NYSE:WKC)

Janney Montgomery Scott LLC cut its holdings in shares of World Kinect Co. (NYSE:WKC) by 1.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,925 shares of the company’s stock after selling 1,113 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.10% of World Kinect worth $1,649,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in WKC. Pacer Advisors Inc. purchased a new position in World Kinect in the 3rd quarter worth approximately $138,806,000. Hennessy Advisors Inc. purchased a new position in World Kinect during the fourth quarter valued at $50,707,000. Assenagon Asset Management S.A. bought a new position in World Kinect during the fourth quarter valued at approximately $2,055,000. Algert Global LLC increased its position in shares of World Kinect by 88.0% during the 3rd quarter. Algert Global LLC now owns 138,560 shares of the company’s stock valued at $4,283,000 after purchasing an additional 64,867 shares during the last quarter. Finally, GSA Capital Partners LLP bought a new position in World Kinect in the 3rd quarter worth $1,990,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and cut 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.20.

World Kinect Trading Down 1.4 %

WKC stock opened at $27.87 on Tuesday. World Kinect Co. has a twelve month low of $21.38 and a twelve month high of $31.70. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.62 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 0.91 and a beta of 1.27. The firm’s fifty day simple moving average is $28.09 and its two-hundred day simple moving average is $28.36.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were issued a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.44%. World Kinect’s payout ratio is currently 30.22%.

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.