World Kinect Co. (NYSE:WKC) Shares Purchased by Ameriprise Financial Inc.

Ameriprise Financial Inc. raised its stake in World Kinect Co. (NYSE:WKC - Free Report) by 118.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 631,698 shares of the company's stock after acquiring an additional 342,823 shares during the quarter. Ameriprise Financial Inc. owned approximately 1.09% of World Kinect worth $17,378,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Hennessy Advisors Inc. acquired a new position in World Kinect in the fourth quarter valued at approximately $50,707,000. Sei Investments Co. raised its stake in shares of World Kinect by 49.9% during the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company's stock worth $904,000 after buying an additional 10,944 shares during the period. ExodusPoint Capital Management LP acquired a new position in shares of World Kinect during the 4th quarter worth approximately $2,978,000. Barclays PLC raised its stake in shares of World Kinect by 18.6% during the 3rd quarter. Barclays PLC now owns 256,126 shares of the company's stock worth $7,918,000 after buying an additional 40,233 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in shares of World Kinect during the 4th quarter worth approximately $2,055,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Stifel Nicolaus reduced their target price on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research note on Friday, February 21st. Bank of America reduced their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research note on Friday, April 25th.

World Kinect Price Performance

Shares of WKC traded down $0.04 during trading hours on Thursday, hitting $27.11. 445,459 shares of the stock were exchanged, compared to its average volume of 777,720. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a 12-month low of $22.71 and a 12-month high of $31.71. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. The stock's 50-day moving average price is $26.09 and its two-hundred day moving average price is $27.48.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. The firm had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm's revenue for the quarter was down 13.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 earnings per share. Research analysts expect that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.51%. The ex-dividend date was Monday, March 31st. World Kinect's payout ratio is currently 283.33%.

Insider Buying and Selling at World Kinect

In other 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 transaction of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This represents a 2.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by company insiders.

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.