Kovitz Investment Group Partners LLC Lowers Position in World Kinect Co. (NYSE:WKC)

Kovitz Investment Group Partners LLC reduced its position in World Kinect Co. (NYSE:WKC - Free Report) by 87.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,352 shares of the company's stock after selling 52,254 shares during the quarter. Kovitz Investment Group Partners LLC's holdings in World Kinect were worth $202,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of WKC. Syon Capital LLC bought a new position in World Kinect during the fourth quarter valued at $273,000. Price T Rowe Associates Inc. MD increased its stake in World Kinect by 3.2% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 140,981 shares of the company's stock worth $3,879,000 after acquiring an additional 4,431 shares during the last quarter. MetLife Investment Management LLC boosted its holdings in shares of World Kinect by 6.8% in the 4th quarter. MetLife Investment Management LLC now owns 35,527 shares of the company's stock worth $977,000 after purchasing an additional 2,248 shares during the period. First Trust Advisors LP increased its position in shares of World Kinect by 23.5% during the 4th quarter. First Trust Advisors LP now owns 139,476 shares of the company's stock valued at $3,837,000 after purchasing an additional 26,573 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its position in World Kinect by 2.2% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 63,209 shares of the company's stock worth $1,738,000 after buying an additional 1,331 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling 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 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 $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 3.20% of the stock is owned by corporate insiders.

World Kinect Price Performance

Shares of WKC stock traded up $0.09 during mid-day trading on Friday, hitting $26.65. 114,134 shares of the stock were exchanged, compared to its average volume of 771,147. 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 52-week low of $22.71 and a 52-week high of $31.71. The firm has a fifty day moving average of $26.24 and a 200 day moving average of $27.51. The company has a market cap of $1.51 billion, a PE ratio of 25.14, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

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, topping the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $10.47 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. The company's revenue for the quarter was down 13.7% on a year-over-year basis. Research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders 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 2.55%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect's dividend payout ratio is presently 283.33%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on WKC shares. Bank of America reduced their target price on shares of 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 decreased their price objective on 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 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.