Comerica Bank Reduces Holdings in World Kinect Co. (NYSE:WKC)

Comerica Bank decreased its position in shares of World Kinect Co. (NYSE:WKC) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,478 shares of the company’s stock after selling 744 shares during the quarter. Comerica Bank’s holdings in World Kinect were worth $646,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. HHM Wealth Advisors LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $25,000. Headlands Technologies LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $48,000. Centricity Wealth Management LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $74,000. New Age Alpha Advisors LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $98,000. Finally, KBC Group NV grew its holdings in shares of World Kinect by 60.2% during the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock worth $99,000 after buying an additional 1,351 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on WKC shares. Stifel Nicolaus lowered 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. Bank of America lowered their price target on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a report on Friday, April 25th.

World Kinect Price Performance

Shares of WKC opened at $27.27 on Thursday. World Kinect Co. has a twelve month low of $22.71 and a twelve month high of $31.71. The stock’s 50 day moving average is $26.17 and its two-hundred day moving average is $27.43. The firm has a market capitalization of $1.54 billion, a PE ratio of 25.73, a P/E/G ratio of 0.89 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the previous year, the company earned $0.47 EPS. The firm’s revenue for the quarter was down 13.7% compared to the same quarter last year. Research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect’s dividend payout ratio is presently 283.33%.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. The trade was a 2.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 3.20% of the stock is owned by corporate insiders.

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.