World Kinect Co. (NYSE:WKC) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. trimmed its holdings in shares of World Kinect Co. (NYSE:WKC) by 0.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 897,307 shares of the company’s stock after selling 5,528 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in World Kinect were worth $23,734,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Headlands Technologies LLC acquired a new position in shares of World Kinect during the fourth quarter worth $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of World Kinect during the fourth quarter worth $32,000. Allworth Financial LP acquired a new position in shares of World Kinect during the fourth quarter worth $35,000. Parkside Financial Bank & Trust acquired a new position in shares of World Kinect during the fourth quarter worth $45,000. Finally, Assetmark Inc. acquired a new position in shares of World Kinect during the fourth quarter worth $96,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Raymond James boosted their target price on shares of World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus dropped their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $28.00.

Insider Activity

In other news, Director Ken Bakshi sold 10,936 shares of the business’s stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.07, for a total transaction of $263,229.52. Following the completion of the transaction, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.90% of the company’s stock.

World Kinect Stock Up 1.7 %

Shares of NYSE:WKC traded up $0.47 during midday trading on Tuesday, reaching $28.25. The company had a trading volume of 663,487 shares, compared to its average volume of 543,705. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The stock’s fifty day moving average price is $25.89 and its 200-day moving average price is $24.90. The stock has a market capitalization of $1.69 billion, a P/E ratio of 29.89, a PEG ratio of 0.91 and a beta of 1.24. World Kinect Co. has a one year low of $17.69 and a one year high of $28.48.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same quarter in the previous year, the firm earned $0.48 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. Equities research analysts expect that World Kinect Co. will post 2.19 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, June 17th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend was Monday, June 17th. World Kinect’s dividend payout ratio (DPR) 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.