Prudential Financial Inc. decreased its holdings in shares of World Kinect Co. (NYSE:WKC - Free Report) by 51.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,664 shares of the company's stock after selling 132,850 shares during the period. Prudential Financial Inc. owned 0.21% of World Kinect worth $3,430,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in WKC. Hennessy Advisors Inc. bought a new stake in shares of World Kinect in the 4th quarter valued at $50,707,000. Boston Partners boosted its position in shares of World Kinect by 4.4% during the 4th quarter. Boston Partners now owns 1,492,026 shares of the company's stock worth $41,226,000 after purchasing an additional 63,234 shares in the last quarter. Geode Capital Management LLC increased its position in World Kinect by 1.6% in the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock valued at $42,358,000 after buying an additional 22,077 shares in 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 worth $41,465,000 after buying an additional 56,952 shares during the period. Finally, Great Lakes Advisors LLC bought a new position in World Kinect in the fourth quarter worth approximately $9,182,000. 97.06% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
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 research report on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $29.80.
Get Our Latest Analysis on WKC
Insider Buying and Selling
In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction 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 sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.
World Kinect Stock Down 7.3 %
Shares of NYSE:WKC traded down $2.08 during mid-day trading on Thursday, hitting $26.31. 813,750 shares of the company traded hands, compared to its average volume of 728,118. The stock has a 50-day moving average price of $28.51 and a two-hundred day moving average price of $28.65. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The stock has a market cap of $1.49 billion, a P/E ratio of 24.82, a P/E/G ratio of 0.89 and a beta of 1.15. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.
World Kinect (NYSE:WKC - Get Free Report) last posted its 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 during the quarter, compared to analyst estimates of $10.57 billion. On average, equities research analysts forecast that World Kinect Co. will post 2.56 earnings per share 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 dividend of $0.17 per share. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.58%. World Kinect's payout ratio is currently 64.15%.
About World Kinect
(
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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