Kingsview Wealth Management LLC Makes New Investment in World Kinect Co. (NYSE:WKC)

Kingsview Wealth Management LLC acquired a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 81,706 shares of the company's stock, valued at approximately $2,248,000. Kingsview Wealth Management LLC owned approximately 0.14% of World Kinect at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in WKC. HHM Wealth Advisors LLC acquired a new stake in World Kinect during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new position in shares of World Kinect in the 3rd quarter valued at $31,000. Quarry LP increased its holdings in shares of World Kinect by 3,600.0% in the 3rd quarter. Quarry LP now owns 1,073 shares of the company's stock valued at $33,000 after acquiring an additional 1,044 shares during the period. Hara Capital LLC acquired a new position in shares of World Kinect in the 3rd quarter valued at $76,000. Finally, KBC Group NV increased its holdings in shares of World Kinect by 60.2% in the 4th quarter. KBC Group NV now owns 3,597 shares of the company's stock valued at $99,000 after acquiring an additional 1,351 shares during the period. Institutional investors and hedge funds own 97.06% of the company's stock.

World Kinect Stock Performance

NYSE:WKC traded down $0.86 during midday trading on Friday, reaching $27.32. The stock had a trading volume of 618,089 shares, compared to its average volume of 516,173. The firm has a fifty day simple moving average of $27.92 and a two-hundred day simple moving average of $28.43. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.70. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock has a market cap of $1.59 billion, a P/E ratio of 12.14, a P/E/G ratio of 0.92 and a beta of 1.27.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.49%. World Kinect's dividend payout ratio (DPR) is 30.22%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus cut shares of World Kinect from a "buy" rating to a "hold" rating and cut their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $30.20.

World Kinect Company 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.