Highland Capital Management LLC Buys 547 Shares of World Kinect Co. (NYSE:WKC)

Highland Capital Management LLC increased its position in World Kinect Co. (NYSE:WKC) by 6.7% during the 4th quarter, Holdings Channel reports. The firm owned 8,728 shares of the company’s stock after acquiring an additional 547 shares during the quarter. Highland Capital Management LLC’s holdings in World Kinect were worth $240,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Envestnet Asset Management Inc. increased its stake in shares of World Kinect by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock valued at $1,808,000 after buying an additional 773 shares during the period. The Manufacturers Life Insurance Company increased its position in World Kinect by 5.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,255 shares of the company’s stock valued at $781,000 after purchasing an additional 1,570 shares during the period. Truist Financial Corp bought a new stake in shares of World Kinect in the 2nd quarter valued at about $528,000. Sanctuary Advisors LLC purchased a new stake in shares of World Kinect in the 2nd quarter worth approximately $1,187,000. Finally, SG Americas Securities LLC boosted its stake in shares of World Kinect by 28.6% during the third quarter. SG Americas Securities LLC now owns 63,341 shares of the company’s stock valued at $1,958,000 after purchasing an additional 14,068 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus downgraded shares of World Kinect from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $33.00 to $32.00 in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Down 1.1 %

Shares of WKC stock opened at $28.28 on Friday. World Kinect Co. has a 1-year low of $21.38 and a 1-year high of $31.70. The company has a market cap of $1.64 billion, a price-to-earnings ratio of 12.57, a price-to-earnings-growth ratio of 0.94 and a beta of 1.28. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The stock’s fifty day moving average price is $28.09 and its 200 day moving average price is $28.34.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio is presently 30.22%.

World Kinect Company 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.