World Kinect Co. (NYSE:WKC) Short Interest Update

World Kinect Co. (NYSE:WKC) saw a large drop in short interest in the month of January. As of January 15th, there was short interest totalling 5,150,000 shares, a drop of 18.8% from the December 31st total of 6,340,000 shares. Approximately 9.2% of the shares of the company are sold short. Based on an average trading volume of 838,200 shares, the short-interest ratio is currently 6.1 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. grew its position in shares of World Kinect by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock worth $1,808,000 after buying an additional 773 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in World Kinect by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company’s stock worth $781,000 after acquiring an additional 1,570 shares in the last quarter. Algert Global LLC bought a new stake in shares of World Kinect in the 2nd quarter worth about $1,901,000. Truist Financial Corp acquired a new stake in shares of World Kinect in the 2nd quarter valued at about $528,000. Finally, Sanctuary Advisors LLC bought a new position in shares of World Kinect during the second quarter worth about $1,187,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and lowered their price objective for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, World Kinect currently has an average rating of “Hold” and an average target price of $30.20.

World Kinect Stock Up 0.7 %

NYSE:WKC traded up $0.21 during mid-day trading on Thursday, hitting $28.84. The company had a trading volume of 21,926 shares, compared to its average volume of 527,844. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 12.83, a PEG ratio of 0.93 and a beta of 1.28. The business has a fifty day simple moving average of $28.09 and a 200-day simple moving average of $28.32. World Kinect has a 1 year low of $21.38 and a 1 year high of $31.70. 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 Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were paid a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is 30.22%.

About World Kinect

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.