Exchange Traded Concepts LLC raised its position in World Kinect Co. (NYSE:WKC – Free Report) by 5.5% during the fourth quarter, HoldingsChannel reports. The firm owned 36,625 shares of the company’s stock after buying an additional 1,924 shares during the quarter. Exchange Traded Concepts LLC’s holdings in World Kinect were worth $1,008,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of WKC. Pacer Advisors Inc. purchased a new stake in shares of World Kinect during the 3rd quarter worth approximately $138,806,000. Hennessy Advisors Inc. purchased a new position in shares of World Kinect in the 4th quarter valued at approximately $50,707,000. Charles Schwab Investment Management Inc. increased its stake in World Kinect by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after buying an additional 4,201 shares during the period. Geode Capital Management LLC raised its holdings in World Kinect by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock worth $42,358,000 after purchasing an additional 22,077 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after buying an additional 56,952 shares during the period. 97.06% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, Stifel Nicolaus downgraded shares of World Kinect from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $33.00 to $32.00 in a report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $30.20.
World Kinect Trading Down 0.2 %
Shares of World Kinect stock opened at $28.82 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.67 billion, a PE ratio of 12.81, a P/E/G ratio of 0.93 and a beta of 1.28. The business’s fifty day moving average is $28.08 and its two-hundred day moving average is $28.32. World Kinect Co. has a fifty-two week low of $21.38 and a fifty-two week high of $31.70.
World Kinect Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were paid a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.36%. World Kinect’s dividend payout ratio is presently 30.22%.
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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