Thrivent Financial for Lutherans Sells 1,515 Shares of World Kinect Co. (NYSE:WKC)

Thrivent Financial for Lutherans reduced its stake in World Kinect Co. (NYSE:WKC) by 3.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,891 shares of the company’s stock after selling 1,515 shares during the period. Thrivent Financial for Lutherans owned 0.08% of World Kinect worth $1,235,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock worth $42,358,000 after purchasing an additional 22,077 shares in the last quarter. Hennessy Advisors Inc. bought a new position in shares of World Kinect during the 4th quarter worth $50,707,000. Principal Financial Group Inc. increased its stake 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 valued at $41,465,000 after buying an additional 56,952 shares during the period. Barclays PLC raised its holdings in shares of World Kinect by 18.6% in the third quarter. Barclays PLC now owns 256,126 shares of the company’s stock valued at $7,918,000 after acquiring an additional 40,233 shares in the last quarter. Finally, Assenagon Asset Management S.A. purchased a new stake in World Kinect in the fourth quarter worth about $2,055,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus reduced their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a 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 given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $29.80.

Insider Transactions at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 2.90% of the company’s stock.

World Kinect Price Performance

Shares of WKC stock opened at $28.37 on Tuesday. The stock’s 50-day moving average is $28.51 and its 200 day moving average is $28.65. World Kinect Co. has a 1-year low of $21.38 and a 1-year high of $31.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The company has a market cap of $1.61 billion, a P/E ratio of 26.77, a PEG ratio of 0.89 and a beta of 1.16.

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

World Kinect Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 2.40%. World Kinect’s dividend payout ratio is presently 64.15%.

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.