World Kinect Co. (NYSE:WKC) Shares Acquired by Vestcor Inc

Vestcor Inc lifted its position in shares of World Kinect Co. (NYSE:WKC) by 40.1% during the fourth quarter, Holdings Channel.com reports. The firm owned 24,148 shares of the company’s stock after acquiring an additional 6,917 shares during the period. Vestcor Inc’s holdings in World Kinect were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in WKC. Pacer Advisors Inc. acquired a new stake in shares of World Kinect during the 3rd quarter worth approximately $138,806,000. Hennessy Advisors Inc. acquired a new stake in World Kinect in the 4th quarter valued at $50,707,000. Great Lakes Advisors LLC acquired a new stake in World Kinect in the 4th quarter valued at $9,182,000. Amundi grew its stake in World Kinect by 1,254.3% in the 4th quarter. Amundi now owns 164,928 shares of the company’s stock valued at $4,536,000 after acquiring an additional 152,750 shares during the period. Finally, Moran Wealth Management LLC acquired a new stake in World Kinect in the 4th quarter valued at $2,295,000. 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 21,507 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.90% of the stock is currently owned by insiders.

World Kinect Price Performance

World Kinect stock opened at $27.96 on Monday. The company’s fifty day moving average price is $28.32 and its 200 day moving average price is $28.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The stock has a market capitalization of $1.59 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.89 and a beta of 1.16. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.71.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. As a group, equities research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. World Kinect’s payout ratio is currently 64.15%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, World Kinect has an average rating of “Hold” and a consensus price target of $29.80.

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.