Guggenheim Capital LLC Sells 1,983 Shares of World Kinect Co. (NYSE:WKC)

Guggenheim Capital LLC trimmed its position in World Kinect Co. (NYSE:WKC) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,410 shares of the company’s stock after selling 1,983 shares during the quarter. Guggenheim Capital LLC’s holdings in World Kinect were worth $231,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new stake in shares of World Kinect during the 4th quarter worth $50,707,000. Principal Financial Group Inc. grew its holdings 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 purchasing an additional 56,952 shares in the last quarter. ExodusPoint Capital Management LP acquired a new stake in shares of World Kinect during the 4th quarter worth $2,978,000. Sei Investments Co. grew its holdings in shares of World Kinect by 49.9% during the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company’s stock worth $904,000 after purchasing an additional 10,944 shares in the last quarter. Finally, Barclays PLC grew its holdings in shares of World Kinect by 18.6% during the 3rd quarter. Barclays PLC now owns 256,126 shares of the company’s stock worth $7,918,000 after purchasing an additional 40,233 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.90% of the company’s stock.

World Kinect Stock Performance

NYSE:WKC opened at $24.83 on Tuesday. The stock’s 50-day simple moving average is $26.89 and its 200 day simple moving average is $27.75. World Kinect Co. has a twelve month low of $22.71 and a twelve month high of $31.71. The firm has a market capitalization of $1.41 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19. 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 posted its earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. During the same period last year, the company earned $0.47 EPS. The firm’s revenue was down 13.7% compared to the same quarter last year. On average, analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.74%. The ex-dividend date was Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is currently 283.33%.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Bank of America reduced their target price on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a report on Friday. Stifel Nicolaus reduced their price objective on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st.

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.