Deutsche Bank AG Raises Stock Holdings in World Kinect Co. (NYSE:WKC)

Deutsche Bank AG increased its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 117.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 105,780 shares of the company's stock after purchasing an additional 57,179 shares during the quarter. Deutsche Bank AG owned 0.18% of World Kinect worth $2,910,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Barclays PLC increased its position in World Kinect by 18.6% during the third quarter. Barclays PLC now owns 256,126 shares of the company's stock valued at $7,918,000 after acquiring an additional 40,233 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in World Kinect during the 4th quarter valued at about $2,055,000. Inspire Investing LLC raised its position in World Kinect by 10.0% in the 4th quarter. Inspire Investing LLC now owns 14,620 shares of the company's stock worth $402,000 after purchasing an additional 1,324 shares during the period. Exchange Traded Concepts LLC raised its position in World Kinect by 5.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 36,625 shares of the company's stock worth $1,008,000 after purchasing an additional 1,924 shares during the period. Finally, KBC Group NV lifted its stake in World Kinect by 60.2% in the fourth quarter. KBC Group NV now owns 3,597 shares of the company's stock worth $99,000 after purchasing an additional 1,351 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.

Insider Buying and Selling

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,019,063 shares of the company's stock, 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 SEC, which is available at this link. 2.90% of the stock is currently owned by company insiders.

World Kinect Stock Up 2.1%

Shares of WKC traded up $0.57 during midday trading on Tuesday, reaching $27.90. 450,597 shares of the stock were exchanged, compared to its average volume of 779,624. The company has a market capitalization of $1.58 billion, a P/E ratio of 26.32, a PEG ratio of 0.89 and a beta of 1.34. 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 Co. has a 52 week low of $22.71 and a 52 week high of $31.71. The company's 50 day moving average is $26.02 and its two-hundred day moving average is $27.47.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. The company had revenue of $9.45 billion during the quarter, compared to analyst estimates 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 for the quarter was down 13.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.47 earnings per share. On average, sell-side analysts anticipate 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 dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.44%. World Kinect's dividend payout ratio is currently 283.33%.

Analyst Ratings Changes

A number of research analysts have recently commented on WKC shares. Bank of America cut their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research note on Friday, April 25th. Stifel Nicolaus cut their price objective 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.

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.