Brandes Investment Partners LP lowered its position in shares of World Kinect Co. (NYSE:WKC - Free Report) by 13.1% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 2,629,993 shares of the company's stock after selling 397,799 shares during the quarter. Brandes Investment Partners LP owned about 4.53% of World Kinect worth $72,351,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vestcor Inc lifted its position in World Kinect by 40.1% during the 4th quarter. Vestcor Inc now owns 24,148 shares of the company's stock worth $664,000 after acquiring an additional 6,917 shares during the period. Great Lakes Advisors LLC acquired a new stake in World Kinect during the 4th quarter worth about $9,182,000. HighTower Advisors LLC lifted its holdings in shares of World Kinect by 12.6% in the 4th quarter. HighTower Advisors LLC now owns 10,868 shares of the company's stock valued at $299,000 after buying an additional 1,219 shares during the period. Moran Wealth Management LLC acquired a new position in shares of World Kinect in the 4th quarter valued at about $2,295,000. Finally, Amundi lifted its holdings in shares of World Kinect by 1,254.3% in the 4th quarter. Amundi now owns 164,928 shares of the company's stock valued at $4,536,000 after buying an additional 152,750 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.
Insider Activity at World Kinect
In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction dated Tuesday, March 4th. The stock was 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 owns 1,019,063 shares in the company, valued at $29,512,064.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is owned by company insiders.
World Kinect Stock Performance
Shares of WKC stock traded up $0.30 on Wednesday, hitting $28.80. The company had a trading volume of 644,343 shares, compared to its average volume of 668,557. The firm has a market cap of $1.63 billion, a P/E ratio of 27.17, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The company has a 50-day moving average price of $28.37 and a 200-day moving average price of $28.63. 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 Co. has a twelve month low of $21.38 and a twelve month high of $31.71.
World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. As a group, equities research analysts predict that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.
World Kinect Dividend Announcement
The firm also recently declared 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. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. World Kinect's dividend payout ratio is presently 64.15%.
Analyst Ratings Changes
Separately, Stifel Nicolaus decreased their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, World Kinect presently has a consensus rating of "Hold" and an average target price of $29.80.
Check Out Our Latest Report on WKC
World Kinect Profile
(
Free Report)
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.
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