Geode Capital Management LLC Sells 23,240 Shares of World Kinect Co. (NYSE:WKC)

Geode Capital Management LLC cut its position in World Kinect Co. (NYSE:WKC - Free Report) by 1.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,346,884 shares of the company's stock after selling 23,240 shares during the quarter. Geode Capital Management LLC owned approximately 2.32% of World Kinect worth $37,062,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hennessy Advisors Inc. bought a new position in shares of World Kinect in the fourth quarter worth about $50,707,000. Boston Partners lifted 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 worth $41,226,000 after buying an additional 63,234 shares during the last quarter. Principal Financial Group Inc. boosted its position 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 during the period. Great Lakes Advisors LLC acquired a new stake in shares of World Kinect in the fourth quarter worth $9,182,000. Finally, Empowered Funds LLC increased its position in World Kinect by 5.1% during the fourth quarter. Empowered Funds LLC now owns 315,669 shares of the company's stock worth $8,684,000 after acquiring an additional 15,234 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at World Kinect

In other 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 sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 2.90% of the company's stock.

World Kinect Stock Performance

Shares of NYSE WKC traded up $0.11 during trading hours on Friday, reaching $23.61. The stock had a trading volume of 1,171,377 shares, compared to its average volume of 748,708. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 0.89 and a beta of 1.19. World Kinect Co. has a twelve month low of $21.38 and a twelve month high of $31.71. The business's fifty day moving average is $27.41 and its two-hundred day moving average is $28.11. 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 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. The company had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. As a group, research analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were given a dividend of $0.17 per share. The ex-dividend date was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.88%. World Kinect's dividend payout ratio (DPR) is presently 64.15%.

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.