Charles Schwab Investment Management Inc. Sells 6,389 Shares of World Kinect Co. (NYSE:WKC)

Charles Schwab Investment Management Inc. lessened its holdings in shares of World Kinect Co. (NYSE:WKC) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,364,641 shares of the company’s stock after selling 6,389 shares during the period. Charles Schwab Investment Management Inc. owned 2.35% of World Kinect worth $37,541,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Geode Capital Management LLC lifted its position in World Kinect by 1.6% in the 3rd 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 in the last quarter. Algert Global LLC raised its holdings in World Kinect by 88.0% in 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 period. Quantbot Technologies LP grew its stake in shares of World Kinect by 244.6% during the 3rd quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock valued at $2,681,000 after acquiring an additional 61,572 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect in the fourth quarter worth $50,707,000. Finally, Principal Financial Group Inc. grew its position in shares of World Kinect by 4.4% during the third quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after purchasing an additional 56,952 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of WKC stock opened at $27.96 on Friday. The company has a market capitalization of $1.59 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.89 and a beta of 1.16. 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 Co. has a one year low of $21.38 and a one year high of $31.71. The company’s 50-day simple moving average is $28.32 and its two-hundred day simple moving average is $28.63.

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

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. World Kinect’s dividend payout ratio is presently 64.15%.

Insider Activity

In related news, CEO Michael J. Kasbar sold 21,507 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. The trade was a 2.07 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus decreased their target price on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average 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.