World Kinect Co. (NYSE:WKC) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in shares of World Kinect Co. (NYSE:WKC) by 21.3% in the second quarter, according to its most recent filing with the SEC. The firm owned 1,284,532 shares of the company’s stock after selling 346,861 shares during the quarter. Principal Financial Group Inc. owned about 2.14% of World Kinect worth $33,141,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in World Kinect by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock worth $186,637,000 after acquiring an additional 146,899 shares during the period. Dimensional Fund Advisors LP bought a new stake in shares of World Kinect in the 4th quarter worth $90,585,000. Brandes Investment Partners LP bought a new stake in shares of World Kinect in the 4th quarter worth $57,423,000. Boston Partners raised its stake in shares of World Kinect by 12.4% in the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after buying an additional 149,433 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of World Kinect in the 4th quarter worth $28,874,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $28.00.

World Kinect Stock Up 0.7 %

Shares of World Kinect stock opened at $28.79 on Friday. The stock’s fifty day moving average is $26.74 and its 200-day moving average is $25.68. The firm has a market capitalization of $1.73 billion, a PE ratio of 30.96, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $28.88.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The firm’s revenue for the quarter was down .1% on a year-over-year basis. During the same period last year, the firm earned $0.48 earnings per share. Equities analysts anticipate that World Kinect Co. will post 2.16 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th were paid a $0.17 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.36%. World Kinect’s dividend payout ratio (DPR) is currently 73.12%.

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.