Schonfeld Strategic Advisors LLC Makes New $632,000 Investment in World Kinect Co. (NYSE:WKC)

Schonfeld Strategic Advisors LLC purchased a new stake in shares of World Kinect Co. (NYSE:WKC - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 22,971 shares of the company's stock, valued at approximately $632,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in WKC. 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 valued at $84,399,000 after purchasing an additional 719,631 shares during the period. Hennessy Advisors Inc. acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $50,707,000. Boston Partners raised its holdings in World Kinect by 4.4% during the fourth quarter. Boston Partners now owns 1,492,026 shares of the company's stock worth $41,226,000 after purchasing an additional 63,234 shares in the last quarter. Principal Financial Group Inc. boosted its position in World Kinect by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock worth $41,465,000 after purchasing an additional 56,952 shares in the last quarter. Finally, EVR Research LP raised its position 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 valued at $19,532,000 after buying an additional 440,000 shares during the last quarter. Institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on WKC. Bank of America reduced their price objective on 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 cut their target price on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research report on Friday, February 21st.

World Kinect Price Performance

Shares of WKC traded up $0.05 during trading hours on Thursday, reaching $27.30. 88,338 shares of the stock traded hands, compared to its average volume of 774,187. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The company has a market cap of $1.55 billion, a P/E ratio of 25.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71. The company's 50-day moving average price is $26.17 and its two-hundred day moving average price is $27.43.

World Kinect (NYSE:WKC - Get Free Report) last announced its 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. The business had revenue of $9.45 billion during the quarter, compared to the consensus estimate of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business's quarterly revenue was down 13.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. On average, 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 disclosed a quarterly dividend, which was paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. The ex-dividend date was Monday, March 31st. World Kinect's dividend payout ratio is presently 283.33%.

Insider Buying and Selling

In related news, CEO Michael J. Kasbar sold 21,507 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $29,512,064.48. The trade was 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 link. Insiders own 3.20% of the company's stock.

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.