Vanguard Group Inc. Has $157.40 Million Stake in World Kinect Co. (NYSE:WKC)

Vanguard Group Inc. lessened its position in World Kinect Co. (NYSE:WKC) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,909,331 shares of the company’s stock after selling 125,588 shares during the period. Vanguard Group Inc. owned 11.54% of World Kinect worth $157,395,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Headlands Technologies LLC bought a new stake in World Kinect in the fourth quarter worth approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in shares of World Kinect in the fourth quarter valued at $32,000. Allworth Financial LP purchased a new stake in World Kinect during the 4th quarter worth about $35,000. Parkside Financial Bank & Trust purchased a new stake in World Kinect in the 4th quarter worth approximately $45,000. Finally, Assetmark Inc. purchased a new stake in shares of World Kinect in the 4th quarter valued at about $96,000. 97.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Raymond James increased their target price on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Bank of America upped their price objective on shares of World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, World Kinect has a consensus rating of “Hold” and an average price target of $26.75.

Insider Buying and Selling at World Kinect

In other news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the sale, the director now directly owns 41,545 shares of the company’s stock, valued at approximately $999,988.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.90% of the company’s stock.

World Kinect Price Performance

Shares of WKC stock opened at $25.74 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14. World Kinect Co. has a fifty-two week low of $17.69 and a fifty-two week high of $26.83. The firm has a market cap of $1.54 billion, a P/E ratio of 27.68, a P/E/G ratio of 0.82 and a beta of 1.24. The business’s 50 day moving average price is $25.26 and its 200-day moving average price is $24.44.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The company had revenue of $10.95 billion for the quarter, compared to analysts’ expectations of $12.29 billion. On average, equities research analysts anticipate that World Kinect Co. will post 2.3 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, June 17th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $0.68 annualized dividend and a yield of 2.64%. World Kinect’s payout ratio is 73.12%.

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.