Northern Trust Corp Raises Position in World Kinect Co. (NYSE:WKC)

Northern Trust Corp grew its stake in shares of World Kinect Co. (NYSE:WKC - Free Report) by 6.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 702,751 shares of the company's stock after acquiring an additional 41,227 shares during the period. Northern Trust Corp owned 1.21% of World Kinect worth $19,333,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WKC. Hennessy Advisors Inc. bought a new position in shares of World Kinect in the fourth quarter worth $50,707,000. Invesco Ltd. increased its holdings in shares of World Kinect by 30.6% in the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after purchasing an additional 719,631 shares during the period. EVR Research LP increased its holdings in shares of World Kinect by 163.0% in the fourth quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after purchasing an additional 440,000 shares during the period. Great Lakes Advisors LLC bought a new position in shares of World Kinect in the fourth quarter worth $9,182,000. Finally, Amundi increased its holdings in shares of World Kinect by 1,254.3% in the fourth quarter. Amundi now owns 164,928 shares of the company's stock worth $4,536,000 after purchasing an additional 152,750 shares during the period. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Price Performance

WKC traded up $0.16 during trading on Friday, reaching $27.75. The stock had a trading volume of 435,997 shares, compared to its average volume of 776,586. The stock has a market cap of $1.57 billion, a PE ratio of 26.18, a PEG ratio of 0.89 and a beta of 1.34. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a one year low of $22.71 and a one year high of $31.71. The business has a 50-day moving average of $26.13 and a 200-day moving average of $27.45.

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

World Kinect Dividend Announcement

The firm 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. The ex-dividend date was Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.45%. World Kinect's payout ratio is 283.33%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on WKC shares. 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 price target on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company'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 completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 3.20% of the company's stock.

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.