Vanguard Group Inc. lowered its holdings in World Kinect Co. (NYSE:WKC - Free Report) by 1.7% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,877,309 shares of the company's stock after selling 116,415 shares during the quarter. Vanguard Group Inc. owned 11.84% of World Kinect worth $189,195,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Hennessy Advisors Inc. acquired a new stake in shares of World Kinect in the fourth quarter worth $50,707,000. Boston Partners grew its position in World Kinect by 4.4% in 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 during the last quarter. Geode Capital Management LLC increased its holdings in shares of World Kinect by 1.6% during the 3rd 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 period. Principal Financial Group Inc. raised its position in shares of World Kinect by 4.4% during the third 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 bought a new stake in shares of World Kinect in the fourth quarter valued at about $9,182,000. 97.06% of the stock is owned by institutional investors.
World Kinect Price Performance
Shares of NYSE:WKC traded up $0.32 during midday trading on Friday, reaching $23.90. 782,503 shares of the company's stock were exchanged, compared to its average volume of 744,126. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company's 50 day simple moving average is $27.78 and its two-hundred day simple moving average is $28.29. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.71. The firm has a market capitalization of $1.36 billion, a PE ratio of 22.55, a price-to-earnings-growth ratio of 0.89 and a beta of 1.19.
World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly 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. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. Equities research analysts expect that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.
World Kinect Dividend Announcement
The business 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. This represents a $0.68 annualized dividend and a yield of 2.84%. The ex-dividend date is Monday, March 31st. World Kinect's dividend payout ratio is 64.15%.
Analyst Upgrades and Downgrades
Separately, Stifel Nicolaus cut their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st.
Check Out Our Latest Stock Analysis on WKC
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 shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.90% of the stock is owned by insiders.
World Kinect Company Profile
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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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