Brevan Howard Capital Management LP Raises Holdings in World Kinect Co. (NYSE:WKC)

Brevan Howard Capital Management LP grew its stake in World Kinect Co. (NYSE:WKC - Free Report) by 72.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 28,649 shares of the company's stock after buying an additional 12,059 shares during the quarter. Brevan Howard Capital Management LP's holdings in World Kinect were worth $788,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WKC. HHM Wealth Advisors LLC purchased a new position in World Kinect during the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB bought a new stake in shares of World Kinect during the 3rd quarter worth approximately $31,000. Headlands Technologies LLC bought a new stake in shares of World Kinect during the 4th quarter worth approximately $48,000. Centricity Wealth Management LLC bought a new stake in shares of World Kinect during the 4th quarter worth approximately $74,000. Finally, New Age Alpha Advisors LLC bought a new stake in shares of World Kinect during the 4th quarter worth approximately $98,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus decreased their price target on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a research note 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 for the company in a research report on Friday, April 25th.

World Kinect Stock Down 1.1%

WKC stock traded down $0.31 on Wednesday, hitting $27.34. 103,552 shares of the company's stock were exchanged, compared to its average volume of 774,142. World Kinect Co. has a 12-month low of $22.71 and a 12-month high of $31.71. The firm has a 50 day moving average price of $26.17 and a two-hundred day moving average price of $27.43. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market cap of $1.55 billion, a P/E ratio of 25.79, a price-to-earnings-growth ratio of 0.89 and a beta of 1.34.

World Kinect (NYSE:WKC - Get Free Report) last posted 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 business had revenue of $9.45 billion for the quarter, compared to the consensus estimate of $10.47 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The company's quarterly revenue was down 13.7% compared to the same quarter last year. As a group, equities research analysts expect that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were paid a $0.17 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.49%. World Kinect's payout ratio is 283.33%.

Insider Transactions at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the company'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 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 document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 3.20% of the company's stock.

About World Kinect

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.