American Century Companies Inc. Buys 113,711 Shares of World Kinect Co. (NYSE:WKC)

American Century Companies Inc. boosted its stake in shares of World Kinect Co. (NYSE:WKC) by 11.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,133,257 shares of the company’s stock after purchasing an additional 113,711 shares during the period. American Century Companies Inc. owned about 1.89% of World Kinect worth $29,238,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of World Kinect by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock valued at $186,637,000 after buying an additional 146,899 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in World Kinect during the fourth quarter valued at approximately $90,585,000. Principal Financial Group Inc. boosted its position in shares of World Kinect by 3.4% in the first quarter. Principal Financial Group Inc. now owns 1,631,393 shares of the company’s stock worth $43,150,000 after purchasing an additional 52,930 shares during the period. Boston Partners increased its stake in shares of World Kinect by 12.4% in the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after purchasing an additional 149,433 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. bought a new stake in shares of World Kinect during the 4th quarter valued at $28,874,000. Institutional investors own 97.06% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director John L. Manley sold 16,000 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The disclosure for this sale can be found here. Corporate insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Bank of America upped their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Monday. Finally, Stifel Nicolaus lowered their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, World Kinect currently has an average rating of “Hold” and a consensus target price of $29.00.

World Kinect Trading Up 0.4 %

Shares of World Kinect stock opened at $30.23 on Thursday. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.81 billion, a price-to-earnings ratio of 32.51, a PEG ratio of 1.08 and a beta of 1.24. World Kinect Co. has a twelve month low of $17.69 and a twelve month high of $30.78. The business has a 50-day moving average price of $27.52 and a 200-day moving average price of $26.06.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business’s revenue was down .1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.48 EPS. Equities research analysts anticipate that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be given a dividend of $0.17 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.25%. World Kinect’s dividend payout ratio (DPR) is currently 73.12%.

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.