By otakuyassine3@gmail.com 
Atria Investments Inc lessened its stake in World Kinect Co. (NYSE:WKC – Free Report) by 2.9% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,481 shares of the company’s stock after selling 975 shares during the period. Atria Investments Inc owned 0.06% of World Kinect worth $894,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in WKC. Pacer Advisors Inc. acquired a new position in World Kinect in the 3rd quarter valued at about $138,806,000. Hennessy Advisors Inc. acquired a new position in World Kinect in the 4th quarter valued at about $50,707,000. Kingsview Wealth Management LLC acquired a new position in World Kinect in the 4th quarter valued at about $2,248,000. Assenagon Asset Management S.A. acquired a new position in World Kinect in the 4th quarter valued at about $2,055,000. Finally, Algert Global LLC increased its position in World Kinect by 88.0% in the 3rd quarter. Algert Global LLC now owns 138,560 shares of the company’s stock valued at $4,283,000 after acquiring an additional 64,867 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.
Insider Buying and Selling
In related 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 sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.
World Kinect Stock Performance
NYSE WKC opened at $27.79 on Thursday. 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 business’s 50 day moving average is $28.31 and its two-hundred day moving average is $28.64. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The stock has a market capitalization of $1.58 billion, a price-to-earnings ratio of 26.22, a PEG ratio of 0.89 and a beta of 1.16.
World Kinect (NYSE:WKC – Get Free Report) last released its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.05. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. Research analysts expect that World Kinect Co. will post 2.56 EPS for the current year.
World Kinect Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.45%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio is currently 64.15%.
Analysts Set New Price Targets
Separately, Stifel Nicolaus dropped their target price on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, World Kinect presently has a consensus rating of “Hold” and an average price target of $29.80.
Check Out Our Latest Report on World Kinect
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.
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