ExodusPoint Capital Management LP Buys Shares of 108,254 World Kinect Co. (NYSE:WKC)

ExodusPoint Capital Management LP purchased a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 108,254 shares of the company's stock, valued at approximately $2,978,000. ExodusPoint Capital Management LP owned about 0.19% of World Kinect as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WKC. Hennessy Advisors Inc. acquired a new position in shares of World Kinect during the fourth quarter valued at $50,707,000. Boston Partners raised its position in shares of World Kinect by 4.4% during the 4th quarter. Boston Partners now owns 1,492,026 shares of the company's stock worth $41,226,000 after buying an additional 63,234 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of World Kinect by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock worth $42,358,000 after acquiring an additional 22,077 shares during the period. Principal Financial Group Inc. boosted its holdings 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 valued at $41,465,000 after acquiring an additional 56,952 shares in the last quarter. Finally, Great Lakes Advisors LLC acquired a new position in shares of World Kinect during the fourth quarter valued at approximately $9,182,000. 97.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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 transaction, the chief executive officer now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company's stock.

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World Kinect Price Performance

Shares of NYSE WKC traded up $0.32 during trading on Friday, hitting $23.90. The company had a trading volume of 782,503 shares, compared to its average volume of 744,126. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The business's 50-day moving average is $27.78 and its 200 day moving average is $28.29. The company has a market cap of $1.36 billion, a P/E ratio of 22.55, a PEG ratio of 0.89 and a beta of 1.19. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect (NYSE:WKC - Get Free Report) 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. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. Equities research analysts predict that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend is Monday, March 31st. World Kinect's dividend payout ratio is 64.15%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st.

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.