Charles Schwab Investment Management Inc. Takes $28.87 Million Position in World Kinect Co. (NYSE:WKC)

Charles Schwab Investment Management Inc. bought a new stake in World Kinect Co. (NYSE:WKC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,267,534 shares of the company’s stock, valued at approximately $28,874,000. Charles Schwab Investment Management Inc. owned 2.11% of World Kinect as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. purchased a new position in World Kinect during the third quarter valued at $157,793,000. River Road Asset Management LLC purchased a new position in World Kinect during the fourth quarter valued at $26,514,000. LSV Asset Management purchased a new position in shares of World Kinect in the fourth quarter worth $26,375,000. Assenagon Asset Management S.A. purchased a new position in shares of World Kinect in the fourth quarter worth $12,990,000. Finally, Victory Capital Management Inc. purchased a new position in shares of World Kinect in the fourth quarter worth $10,186,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the transaction, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the transaction, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Paul H. Stebbins sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total value of $487,400.00. Following the transaction, the director now directly owns 75,375 shares in the company, valued at approximately $1,836,888.75. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on WKC. Bank of America lifted their price objective on World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Thursday, March 14th. JPMorgan Chase & Co. assumed coverage on World Kinect in a report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price target for the company. Finally, Raymond James boosted their price target on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $26.75.

World Kinect Price Performance

NYSE:WKC opened at $24.86 on Thursday. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $1.49 billion, a P/E ratio of 26.73, a P/E/G ratio of 2.28 and a beta of 1.27. World Kinect Co. has a 12 month low of $17.69 and a 12 month high of $26.83. The business’s 50-day moving average is $25.18 and its 200 day moving average is $23.39.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The company had revenue of $10.95 billion for the quarter, compared to analysts’ expectations of $12.29 billion. On average, equities research analysts forecast that World Kinect Co. will post 2.19 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were given a dividend of $0.17 per share. The ex-dividend date was Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a yield of 2.74%. World Kinect’s dividend payout ratio is 73.12%.

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.