Great Lakes Advisors LLC Takes Position in World Kinect Co. (NYSE:WKC)

Great Lakes Advisors LLC purchased a new stake in shares of World Kinect Co. (NYSE:WKC) in the 4th quarter, Holdings Channel reports. The fund purchased 333,779 shares of the company’s stock, valued at approximately $9,182,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WKC. Pacer Advisors Inc. purchased a new stake in shares of World Kinect during the 3rd quarter valued at about $138,806,000. Hennessy Advisors Inc. bought a new stake in World Kinect during the 4th quarter worth approximately $50,707,000. Amundi raised its stake in World Kinect by 1,254.3% during the 4th quarter. Amundi now owns 164,928 shares of the company’s stock worth $4,536,000 after acquiring an additional 152,750 shares during the period. Moran Wealth Management LLC bought a new stake in World Kinect during the 4th quarter worth approximately $2,295,000. Finally, Kingsview Wealth Management LLC bought a new stake in World Kinect during the 4th quarter worth approximately $2,248,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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 on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

World Kinect Price Performance

NYSE WKC opened at $27.79 on Thursday. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.71. The stock has a market cap of $1.58 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.89 and a beta of 1.16. The company’s 50 day moving average is $28.31 and its two-hundred day moving average is $28.64. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. As a group, research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is currently 64.15%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $29.80.

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.