American Century Companies Inc. Sells 494,850 Shares of World Kinect Corporation $WKC

Key Points

• American Century Companies Inc. cut its stake in World Kinect Corporation by 53% during the first quarter, now holding 438,388 shares estimated at $12.4 million.
• A number of institutional investors, like LSV Asset Management and Jacobs Levy Equity Management, have increased their holdings in World Kinect, highlighting ongoing interest in the company.
• World Kinect announced a quarterly dividend increase to $0.20 per share, reflecting a commitment to returning value to shareholders despite a negative net margin.

American Century Companies Inc. lowered its stake in World Kinect Corporation (NYSE:WKC - Free Report) by 53.0% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 438,388 shares of the company's stock after selling 494,850 shares during the quarter. American Century Companies Inc. owned about 0.77% of World Kinect worth $12,433,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in WKC. Caitong International Asset Management Co. Ltd bought a new stake in shares of World Kinect in the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. raised its stake in World Kinect by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock valued at $179,000 after acquiring an additional 2,925 shares in the last quarter. EP Wealth Advisors LLC raised its stake in shares of World Kinect by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock worth $209,000 after buying an additional 1,104 shares in the last quarter. Eukles Asset Management raised its stake in shares of World Kinect by 17.6% in the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock worth $221,000 after buying an additional 1,165 shares in the last quarter. Finally, Quantinno Capital Management LP bought a new stake in shares of World Kinect in the 4th quarter worth $224,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Morgan Stanley decreased their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Raymond James Financial restated an "outperform" rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average target price of $29.40.

World Kinect Stock Down 0.2%

Shares of NYSE:WKC traded down $0.05 on Friday, reaching $26.77. The company had a trading volume of 477,028 shares, compared to its average volume of 699,360. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.70. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.49 billion, a P/E ratio of -3.51, a P/E/G ratio of 1.23 and a beta of 1.39. The stock has a 50-day moving average price of $27.41 and a 200 day moving average price of $27.21.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.48 by $0.11. The firm had revenue of $9.04 billion during the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. On average, equities analysts expect that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 17th. This is a boost from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio (DPR) is -10.48%.

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.