Deprince Race & Zollo Inc. Invests $12.21 Million in World Kinect Co. (NYSE:WKC)

Deprince Race & Zollo Inc. bought a new stake in shares of World Kinect Co. (NYSE:WKC) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 473,135 shares of the company’s stock, valued at approximately $12,207,000.

Other institutional investors also recently bought and sold shares of the company. GSA Capital Partners LLP bought a new position in World Kinect during the 4th quarter valued at approximately $2,822,000. Wells Fargo & Company MN purchased a new position in shares of World Kinect in the 4th quarter worth about $12,179,000. Boston Partners lifted its holdings in World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after acquiring an additional 149,433 shares during the period. Hsbc Holdings PLC bought a new stake in shares of World Kinect during the 4th quarter valued at about $1,016,000. Finally, Nomura Holdings Inc. bought a new position in shares of World Kinect in the 4th quarter worth approximately $8,913,000. 97.06% of the stock is owned by institutional investors.

Insider Activity at World Kinect

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

World Kinect Stock Up 0.3 %

Shares of WKC stock opened at $30.50 on Friday. The company’s fifty day simple moving average is $28.06 and its two-hundred day simple moving average is $26.32. World Kinect Co. has a 52 week low of $17.69 and a 52 week high of $31.70. The stock has a market cap of $1.83 billion, a P/E ratio of 32.80, a PEG ratio of 1.06 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 (NYSE:WKC) last posted its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $10.97 billion during the quarter, compared to analysts’ expectations of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. World Kinect’s quarterly revenue was down .1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.48 earnings per share. Analysts predict that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.23%. The ex-dividend date is Monday, September 30th. World Kinect’s dividend payout ratio (DPR) is presently 73.12%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Bank of America upped their target price on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. JPMorgan Chase & Co. lifted their target price on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Stifel Nicolaus decreased their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Finally, Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research note on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $30.40.

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.