AQR Capital Management LLC Sells 20,585 Shares of World Kinect Co. (NYSE:WKC)

AQR Capital Management LLC lowered its holdings in World Kinect Co. (NYSE:WKC) by 11.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 152,328 shares of the company’s stock after selling 20,585 shares during the quarter. AQR Capital Management LLC owned 0.25% of World Kinect worth $3,930,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in WKC. Nomura Holdings Inc. bought a new stake in shares of World Kinect in the 4th quarter valued at approximately $8,913,000. Boston Partners raised its stake in World Kinect by 12.4% during the first quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after acquiring an additional 149,433 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of World Kinect by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock valued at $186,637,000 after acquiring an additional 146,899 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of World Kinect by 3.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock valued at $106,471,000 after purchasing an additional 140,314 shares in the last quarter. Finally, GSA Capital Partners LLP bought a new stake in shares of World Kinect in the 4th quarter worth about $2,822,000. 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 World Kinect stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

World Kinect Trading Up 0.8 %

WKC stock opened at $31.02 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. World Kinect Co. has a twelve month low of $17.69 and a twelve month high of $31.70. The company has a market cap of $1.86 billion, a P/E ratio of 33.35, a PEG ratio of 1.06 and a beta of 1.25. The business has a fifty day moving average of $28.55 and a 200-day moving average of $26.59.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. During the same quarter in the previous year, the firm posted $0.48 EPS. The business’s revenue was down .1% on a year-over-year basis. As a group, equities research analysts expect that World Kinect Co. will post 2.15 EPS for the current 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 dividend of $0.17 per share. The ex-dividend date is Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.19%. World Kinect’s payout ratio is currently 73.12%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Stifel Nicolaus cut their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, July 26th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price target on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Finally, Bank of America raised their price target on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.