Millennium Management LLC Acquires 440,168 Shares of World Kinect Co. (NYSE:WKC)

Millennium Management LLC increased its stake in World Kinect Co. (NYSE:WKC - Free Report) by 639.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 508,959 shares of the company's stock after buying an additional 440,168 shares during the period. Millennium Management LLC owned 0.88% of World Kinect worth $14,001,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invesco Ltd. grew its stake in shares of World Kinect by 30.6% in the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after buying an additional 719,631 shares during the last quarter. Boston Partners grew its stake in shares of 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 buying an additional 63,234 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its position in World Kinect by 24.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock valued at $30,804,000 after acquiring an additional 216,903 shares in the last quarter. EVR Research LP boosted its stake in World Kinect by 163.0% during the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock valued at $19,532,000 after purchasing an additional 440,000 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in World Kinect by 6.2% during the 4th quarter. Northern Trust Corp now owns 702,751 shares of the company's stock valued at $19,333,000 after purchasing an additional 41,227 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

WKC has been the subject of several recent analyst reports. Stifel Nicolaus decreased their price target 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 decreased their price target 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 stock traded down $0.09 during trading hours on Wednesday, hitting $27.77. The stock had a trading volume of 36,938 shares, compared to its average volume of 776,705. The stock's 50-day moving average price is $26.02 and its two-hundred day moving average price is $27.47. World Kinect Co. has a one year low of $22.71 and a one year high of $31.71. The stock has a market capitalization of $1.57 billion, a price-to-earnings ratio of 26.21, a PEG ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

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

World Kinect Dividend Announcement

The business 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. The ex-dividend date was Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.45%. World Kinect's payout ratio is currently 283.33%.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. The trade was a 2.07% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.90% of the stock is currently owned by insiders.

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.