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

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

A number of other large investors also recently bought and sold shares of WKC. QRG Capital Management Inc. increased its position in shares of World Kinect by 3.7% during the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company's stock worth $400,000 after purchasing an additional 517 shares in the last quarter. Highland Capital Management LLC increased its position in shares of World Kinect by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company's stock worth $240,000 after purchasing an additional 547 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of World Kinect by 2.2% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock worth $893,000 after purchasing an additional 707 shares in the last quarter. HHM Wealth Advisors LLC acquired a new position in shares of World Kinect during the fourth quarter worth $25,000. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of World Kinect by 3.0% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock worth $885,000 after purchasing an additional 947 shares in the last quarter. Institutional investors own 97.06% of the company's stock.

Insider Activity at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the sale, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.20% of the stock is owned by insiders.

World Kinect Price Performance

NYSE WKC opened at $27.11 on Friday. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock's fifty day moving average price is $26.09 and its 200 day moving average price is $27.48. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 25.58, a PEG ratio of 0.89 and a beta of 1.34.

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

World Kinect Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Stifel Nicolaus reduced their price target 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. Bank of America reduced their price target on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research report on Friday, April 25th.

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.

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