Alberta Investment Management Corp Trims Stake in World Kinect Co. (NYSE:WKC)

Alberta Investment Management Corp lessened its stake in shares of World Kinect Co. (NYSE:WKC) by 99.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 39,900 shares of the company’s stock after selling 6,500,000 shares during the period. Alberta Investment Management Corp’s holdings in World Kinect were worth $1,098,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the stock. Geode Capital Management LLC boosted its stake in shares of World Kinect by 1.6% during the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after acquiring an additional 22,077 shares during the last quarter. Algert Global LLC boosted its stake in shares of World Kinect by 88.0% during the 3rd quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after purchasing an additional 64,867 shares during the last quarter. Quantbot Technologies LP grew its holdings in shares of World Kinect by 244.6% during the third quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock worth $2,681,000 after buying an additional 61,572 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect during the fourth quarter worth about $50,707,000. Finally, Principal Financial Group Inc. raised its position in shares of World Kinect by 4.4% in the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after buying an additional 56,952 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus lowered their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, World Kinect presently has a consensus rating of “Hold” and a consensus price target of $29.80.

World Kinect Stock Up 11.3 %

WKC opened at $30.72 on Friday. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.70. The business has a 50-day moving average of $27.89 and a two-hundred day moving average of $28.46. 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 has a market capitalization of $1.78 billion, a price-to-earnings ratio of 13.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.27.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The firm had revenue of $9.76 billion during the quarter, compared to analyst estimates of $10.57 billion. On average, research analysts expect that World Kinect Co. will post 2.08 earnings per share for the current year.

World Kinect Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

World Kinect 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.