AlphaQuest LLC Sells 5,795 Shares of World Kinect Co. (NYSE:WKC)

AlphaQuest LLC trimmed its position in World Kinect Co. (NYSE:WKC) by 85.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 987 shares of the company’s stock after selling 5,795 shares during the quarter. AlphaQuest LLC’s holdings in World Kinect were worth $27,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WKC. QRG Capital Management Inc. boosted its position in World Kinect by 3.7% in the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock valued at $400,000 after buying an additional 517 shares in the last quarter. Highland Capital Management LLC boosted its position in World Kinect by 6.7% in the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after buying an additional 547 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in World Kinect in the fourth quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in World Kinect in the third quarter valued at approximately $31,000. Finally, Quarry LP boosted its position in World Kinect by 3,600.0% in the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after buying an additional 1,044 shares in the last quarter. 97.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their target price on shares of 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.80.

World Kinect Price Performance

Shares of NYSE:WKC opened at $27.98 on Friday. The firm has a market cap of $1.59 billion, a PE ratio of 26.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The firm’s fifty day moving average is $28.43 and its 200-day moving average is $28.63. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71.

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

World Kinect Dividend Announcement

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

Insider Transactions at World Kinect

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 transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.90% of the stock is owned by company insiders.

About World Kinect

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.