Hudson Edge Investment Partners Inc. Cuts Stock Holdings in World Kinect Co. (NYSE:WKC)

Hudson Edge Investment Partners Inc. cut its stake in shares of World Kinect Co. (NYSE:WKC) by 7.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 18,990 shares of the company’s stock after selling 1,492 shares during the period. Hudson Edge Investment Partners Inc.’s holdings in World Kinect were worth $522,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pacer Advisors Inc. purchased a new stake in World Kinect during the third quarter valued at about $138,806,000. Hennessy Advisors Inc. purchased a new position in World Kinect in the fourth quarter valued at approximately $50,707,000. Charles Schwab Investment Management Inc. lifted its position in World Kinect by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after buying an additional 4,201 shares in the last quarter. Geode Capital Management LLC grew its stake in World Kinect by 1.6% during the third 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 period. Finally, Principal Financial Group Inc. increased its position in shares of World Kinect by 4.4% in 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 in the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Stifel Nicolaus reduced their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $29.80.

World Kinect Stock Up 11.3 %

NYSE WKC opened at $30.72 on Friday. The stock has a market cap of $1.78 billion, a PE ratio of 13.65, a P/E/G ratio of 0.88 and a beta of 1.27. The business has a 50 day moving average price of $27.89 and a two-hundred day moving average price of $28.46. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week 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.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. As a group, sell-side analysts predict that World Kinect Co. will post 2.08 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently announced 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 2.21%. 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.