Arrowstreet Capital Limited Partnership Sells 90,327 Shares of World Kinect Co. (NYSE:WKC)

Arrowstreet Capital Limited Partnership lowered its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 88.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,764 shares of the company's stock after selling 90,327 shares during the quarter. Arrowstreet Capital Limited Partnership's holdings in World Kinect were worth $324,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Pictet Asset Management Holding SA lifted its position in World Kinect by 76.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,836 shares of the company's stock valued at $491,000 after buying an additional 7,733 shares during the period. New Age Alpha Advisors LLC purchased a new position in shares of World Kinect in the fourth quarter valued at $98,000. Norges Bank bought a new position in World Kinect during the fourth quarter valued at $3,315,000. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of World Kinect by 3.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock valued at $885,000 after purchasing an additional 947 shares during the period. Finally, LPL Financial LLC raised its holdings in shares of World Kinect by 16.0% in the 4th quarter. LPL Financial LLC now owns 42,448 shares of the company's stock valued at $1,168,000 after purchasing an additional 5,861 shares in the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st.

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World Kinect Stock Down 1.0 %

WKC stock traded down $0.23 during midday trading on Tuesday, hitting $23.78. 397,185 shares of the company's stock were exchanged, compared to its average volume of 745,132. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock has a market capitalization of $1.35 billion, a price-to-earnings ratio of 22.43, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19. The firm has a 50 day moving average price of $27.69 and a 200-day moving average price of $28.22.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. On average, analysts anticipate that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be paid a $0.17 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.86%. World Kinect's dividend payout ratio (DPR) is presently 64.15%.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction 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 $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by insiders.

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.