Rafferty Asset Management LLC Has $2.45 Million Stock Position in World Kinect Co. (NYSE:WKC)

Rafferty Asset Management LLC raised its holdings in World Kinect Co. (NYSE:WKC - Free Report) by 80.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 88,883 shares of the company's stock after acquiring an additional 39,677 shares during the quarter. Rafferty Asset Management LLC owned approximately 0.15% of World Kinect worth $2,445,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. QRG Capital Management Inc. increased its position in World Kinect by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company's stock valued at $400,000 after acquiring an additional 517 shares during the period. 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 buying an additional 547 shares during the period. 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 buying an additional 707 shares during the period. HHM Wealth Advisors LLC acquired a new stake 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 buying an additional 947 shares during the period. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Stock Down 0.2%

Shares of NYSE WKC opened at $27.69 on Tuesday. The stock has a market capitalization of $1.57 billion, a P/E ratio of 26.12, a P/E/G ratio of 0.89 and a beta of 1.34. The company has a 50-day moving average price of $26.13 and a 200-day moving average price of $27.47. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71. 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 issued its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.03. The firm had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business's revenue was down 13.7% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Investors of record on Monday, March 31st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Monday, March 31st. World Kinect's payout ratio is currently 283.33%.

Insider Activity at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the firm's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the transaction, the chief executive officer now directly owns 1,019,063 shares of the company's stock, valued at $29,512,064.48. This trade 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 is available at this link. 3.20% of the stock is owned by insiders.

Analyst Ratings Changes

Several research firms have recently weighed in on WKC. Bank of America decreased their price objective on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Stifel Nicolaus reduced their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a 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.

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