World Kinect Co. (NYSE:WKC) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 17.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,189 shares of the company's stock after selling 12,714 shares during the period. Envestnet Asset Management Inc. owned approximately 0.10% of World Kinect worth $1,628,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. QRG Capital Management Inc. increased its position in shares of World Kinect by 3.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company's stock worth $400,000 after acquiring an additional 517 shares in the last quarter. Highland Capital Management LLC boosted its position in World Kinect by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 8,728 shares of the company's stock worth $240,000 after purchasing an additional 547 shares during the period. HHM Wealth Advisors LLC acquired a new stake in World Kinect in the 4th quarter valued at $25,000. Mitsubishi UFJ Trust & Banking Corp raised its position in World Kinect by 3.0% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock valued at $885,000 after purchasing an additional 947 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of World Kinect during the third quarter worth about $31,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WKC. Bank of America lowered 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. Stifel Nicolaus reduced their target price 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.

Insiders Place Their Bets

In related news, CEO Michael J. Kasbar sold 21,507 shares of the 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 sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.90% of the stock is currently owned by company insiders.

World Kinect Stock Up 1.5 %

Shares of WKC traded up $0.39 during trading on Friday, reaching $25.81. The company's stock had a trading volume of 978,726 shares, compared to its average volume of 768,950. The company has a market cap of $1.46 billion, a price-to-earnings ratio of 24.35, a P/E/G ratio of 0.89 and a beta of 1.34. 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 company has a fifty day moving average of $26.54 and a two-hundred day moving average of $27.61. World Kinect Co. has a twelve month low of $22.71 and a twelve month high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm's revenue was down 13.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.47 EPS. On average, sell-side analysts predict that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.63%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect's payout ratio is currently 283.33%.

World Kinect 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.