Massachusetts Financial Services Co. MA Increases Stock Position in World Kinect Co. (NYSE:WKC)

Massachusetts Financial Services Co. MA increased its position in World Kinect Co. (NYSE:WKC) by 3.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 85,434 shares of the company’s stock after buying an additional 2,865 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.14% of World Kinect worth $2,204,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new position in shares of World Kinect in the 4th quarter valued at about $1,262,000. GSA Capital Partners LLP acquired a new position in World Kinect during the fourth quarter valued at approximately $2,822,000. Dynamic Technology Lab Private Ltd purchased a new stake in World Kinect during the fourth quarter worth approximately $455,000. Wells Fargo & Company MN acquired a new stake in shares of World Kinect in the fourth quarter worth $12,179,000. Finally, Boston Partners raised its stake in shares of World Kinect by 12.4% in the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after acquiring an additional 149,433 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Activity

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

World Kinect Trading Up 1.8 %

Shares of WKC opened at $31.40 on Monday. World Kinect Co. has a one year low of $17.69 and a one year high of $31.70. The stock has a 50-day moving average price of $27.73 and a 200 day moving average price of $26.17. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a market capitalization of $1.88 billion, a P/E ratio of 33.76, a P/E/G ratio of 1.08 and a beta of 1.24.

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

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Monday, September 30th. World Kinect’s payout ratio is currently 73.12%.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of research reports. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. JPMorgan Chase & Co. increased their target price on World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research note on Thursday. Stifel Nicolaus reduced their price target on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research report on Friday, July 26th. Finally, Bank of America upped their price target on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $30.40.

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.