Federated Hermes Inc. Takes Position in World Kinect Co. (NYSE:WKC)

Federated Hermes Inc. acquired a new stake in shares of World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 88,548 shares of the company's stock, valued at approximately $2,436,000. Federated Hermes Inc. owned 0.15% of World Kinect as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect in the 4th quarter worth approximately $50,707,000. Boston Partners raised its holdings in shares of World Kinect by 4.4% during the fourth quarter. Boston Partners now owns 1,492,026 shares of the company's stock valued at $41,226,000 after purchasing an additional 63,234 shares during the last quarter. Geode Capital Management LLC boosted its holdings in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock worth $42,358,000 after purchasing an additional 22,077 shares during the last quarter. Principal Financial Group Inc. raised its stake in World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after buying an additional 56,952 shares during the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of World Kinect in the 4th quarter worth $9,182,000. Institutional investors own 97.06% of the company's stock.

Analyst Ratings Changes

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

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World Kinect Stock Performance

Shares of WKC stock traded down $0.23 during trading hours on Tuesday, reaching $23.78. 397,185 shares of the company traded hands, 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 market cap of $1.35 billion, a P/E ratio of 22.43, a P/E/G 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. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The firm 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%. As a group, sell-side 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. Stockholders of record on Monday, March 31st will be issued a $0.17 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.86%. World Kinect's payout ratio is 64.15%.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 of the company's stock, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.90% of the stock is owned by company 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.