Highland Capital Management LLC Increases Stake in World Kinect Co. (NYSE:WKC)

Highland Capital Management LLC lifted its stake in World Kinect Co. (NYSE:WKC) by 6.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 8,728 shares of the company’s stock after buying an additional 547 shares during the quarter. Highland Capital Management LLC’s holdings in World Kinect were worth $240,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and dropped their price target for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. Two 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. Based on data from MarketBeat, World Kinect currently has a consensus rating of “Hold” and a consensus price target of $30.20.

World Kinect Stock Down 1.1 %

Shares of NYSE WKC opened at $28.28 on Friday. The company has a market cap of $1.64 billion, a P/E ratio of 12.57, a PEG ratio of 0.94 and a beta of 1.28. The firm has a 50-day simple moving average of $28.09 and a two-hundred day simple moving average of $28.34. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.70. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

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.