Voloridge Investment Management LLC lowered its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 39.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 264,024 shares of the company's stock after selling 169,129 shares during the quarter. Voloridge Investment Management LLC owned 0.45% of World Kinect worth $7,263,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Sei Investments Co. grew its stake in World Kinect by 49.9% in the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company's stock valued at $904,000 after purchasing an additional 10,944 shares during the period. ExodusPoint Capital Management LP bought a new position in World Kinect in the 4th quarter valued at $2,978,000. Barclays PLC grew its stake in World Kinect by 18.6% in the 3rd quarter. Barclays PLC now owns 256,126 shares of the company's stock valued at $7,918,000 after purchasing an additional 40,233 shares during the period. Verity Asset Management Inc. bought a new position in World Kinect in the 4th quarter valued at $266,000. Finally, State of Alaska Department of Revenue grew its stake in World Kinect by 155.0% in the 4th quarter. State of Alaska Department of Revenue now owns 86,007 shares of the company's stock valued at $2,366,000 after purchasing an additional 52,284 shares during the period. Institutional investors own 97.06% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. Bank of America dropped 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. Stifel Nicolaus dropped 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.
Read Our Latest Stock Report on World Kinect
Insider Buying and Selling at World Kinect
In other news, CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction dated 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 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 hyperlink. 2.90% of the stock is owned by company insiders.
World Kinect Price Performance
WKC traded down $0.36 during trading on Friday, reaching $27.55. 99,755 shares of the company were exchanged, compared to its average volume of 775,269. The company's 50-day moving average is $26.01 and its two-hundred day moving average is $27.46. The company has a market cap of $1.56 billion, a price-to-earnings ratio of 25.98, a P/E/G ratio of 0.89 and a beta of 1.34. 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 Co. has a 12-month low of $22.71 and a 12-month high of $31.71.
World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The company reported $0.48 earnings per share 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 analysts' expectations of $10.47 billion. During the same quarter last year, the firm posted $0.47 EPS. The company's revenue was down 13.7% compared to the same quarter last year. Research analysts forecast that World Kinect Co. will post 2.56 earnings per share 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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.47%. World Kinect's dividend payout ratio is presently 283.33%.
About World Kinect
(
Free Report)
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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