Alberta Investment Management Corp Buys New Position in World Kinect Co. (NYSE:WKC)

Alberta Investment Management Corp purchased a new position in World Kinect Co. (NYSE:WKCFree Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 31,000 shares of the company’s stock, valued at approximately $706,000. Alberta Investment Management Corp owned 0.05% of World Kinect as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in WKC. Vanguard Group Inc. bought a new stake in shares of World Kinect during the 3rd quarter valued at about $157,793,000. Dimensional Fund Advisors LP purchased a new position in shares of World Kinect during the 4th quarter worth approximately $90,585,000. Brandes Investment Partners LP bought a new position in shares of World Kinect in the 4th quarter worth approximately $57,423,000. Principal Financial Group Inc. purchased a new position in shares of World Kinect in the 4th quarter valued at approximately $35,957,000. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $28,874,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Trading Up 0.8 %

World Kinect stock opened at $26.56 on Tuesday. World Kinect Co. has a one year low of $17.69 and a one year high of $26.83. The business’s fifty day moving average is $25.14 and its 200 day moving average is $23.71. The stock has a market capitalization of $1.59 billion, a PE ratio of 28.56, a price-to-earnings-growth ratio of 0.89 and a beta of 1.30. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.14 and a quick ratio of 0.97.

World Kinect (NYSE:WKCGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The company had revenue of $10.95 billion during the quarter, compared to the consensus estimate of $12.29 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. On average, sell-side analysts predict that World Kinect Co. will post 2.2 EPS for the current year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date was Friday, March 22nd. This is a boost from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio is 73.12%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on WKC. Bank of America raised their target price on shares of World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Thursday, March 14th. Raymond James increased their target price on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. began coverage on World Kinect in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price target for the company. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, World Kinect presently has an average rating of “Hold” and a consensus price target of $26.75.

View Our Latest Stock Report on WKC

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 on Monday, May 6th. The stock was sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the sale, the director now directly owns 41,545 shares in the company, valued at approximately $999,988.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.90% of the company’s stock.

World Kinect Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for World Kinect (NYSE:WKC)

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