Vestcor Inc Acquires 6,917 Shares of World Kinect Co. (NYSE:WKC)

Vestcor Inc boosted its holdings in shares of World Kinect Co. (NYSE:WKC) by 40.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WKC. HHM Wealth Advisors LLC bought a new position in World Kinect during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of World Kinect during the third quarter valued at about $31,000. Quarry LP lifted its position in shares of World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after buying an additional 1,044 shares during the last quarter. Centricity Wealth Management LLC purchased a new stake in shares of World Kinect during the fourth quarter valued at about $74,000. Finally, KBC Group NV lifted its position in shares of World Kinect by 60.2% during the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock valued at $99,000 after buying an additional 1,351 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.

Insider Activity at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.90% of the stock is currently owned by insiders.

World Kinect Stock Performance

Shares of World Kinect stock opened at $27.96 on Monday. The firm has a market capitalization of $1.59 billion, a P/E ratio of 26.37, a PEG ratio of 0.89 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a 50 day moving average price of $28.32 and a 200 day moving average price of $28.63. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.57 by $0.05. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. Sell-side analysts expect that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

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

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.80.

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.