Rafferty Asset Management LLC Increases Holdings in World Kinect Co. (NYSE:WKC)

Rafferty Asset Management LLC boosted its stake in World Kinect Co. (NYSE:WKC - Free Report) by 80.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,883 shares of the company's stock after acquiring an additional 39,677 shares during the period. Rafferty Asset Management LLC owned 0.15% of World Kinect worth $2,445,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WKC. Quantinno Capital Management LP bought a new position in shares of World Kinect during the 4th quarter worth approximately $224,000. Millennium Management LLC boosted its holdings in shares of World Kinect by 639.9% during the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after buying an additional 440,168 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of World Kinect by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock worth $893,000 after buying an additional 707 shares in the last quarter. Jacobs Levy Equity Management Inc. boosted its holdings in shares of World Kinect by 24.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock worth $30,804,000 after buying an additional 216,903 shares in the last quarter. Finally, Deutsche Bank AG boosted its holdings in shares of World Kinect by 117.6% during the 4th quarter. Deutsche Bank AG now owns 105,780 shares of the company's stock worth $2,910,000 after buying an additional 57,179 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Up 0.8%

NYSE WKC traded up $0.22 on Friday, reaching $27.34. The company had a trading volume of 672,117 shares, compared to its average volume of 780,946. The stock has a market capitalization of $1.55 billion, a P/E ratio of 25.79, a P/E/G ratio of 0.89 and a beta of 1.34. The company's fifty day moving average is $26.06 and its 200 day moving average is $27.47. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC - Get Free Report) last released 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. The business had revenue of $9.45 billion during the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. World Kinect's quarterly 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. Sell-side analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect's payout ratio is currently 283.33%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on WKC. Stifel Nicolaus lowered their target price 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 lowered their target price 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.

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 stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.20% 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.