Kovitz Investment Group Partners LLC Decreases Holdings in World Kinect Co. (NYSE:WKC)

Kovitz Investment Group Partners LLC trimmed its stake in World Kinect Co. (NYSE:WKC - Free Report) by 87.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 & Exchange Commission.

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

Insider Activity

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction that occurred 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 sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

World Kinect Stock Up 1.5 %

Shares of WKC opened at $25.81 on Friday. 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. The stock has a 50 day simple moving average of $26.54 and a two-hundred day simple moving average of $27.61. The firm has a market cap of $1.46 billion, a P/E ratio of 24.35, a P/E/G 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 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm's quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.47 EPS. On average, analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were issued a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.63%. World Kinect's dividend payout ratio is currently 283.33%.

Analyst Ratings Changes

Several research firms have recently weighed in on WKC. Stifel Nicolaus decreased their price target on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Bank of America decreased their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research note 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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