US Bancorp DE Reduces Stock Holdings in World Kinect Co. (NYSE:WKC)

US Bancorp DE reduced its stake in shares of World Kinect Co. (NYSE:WKC) by 15.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,856 shares of the company’s stock after selling 2,019 shares during the quarter. US Bancorp DE’s holdings in World Kinect were worth $299,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of the stock. QRG Capital Management Inc. grew its stake in World Kinect by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock valued at $400,000 after purchasing an additional 517 shares in the last quarter. Highland Capital Management LLC grew its stake in World Kinect by 6.7% during the 4th quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares in the last quarter. HHM Wealth Advisors LLC acquired a new stake in World Kinect during the 4th quarter valued at approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in World Kinect during the 3rd quarter valued at approximately $31,000. Finally, Quarry LP grew its stake in World Kinect by 3,600.0% during the 3rd quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after purchasing an additional 1,044 shares in the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the sale, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at $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 is available at this hyperlink. 2.90% of the stock is owned by company insiders.

World Kinect Trading Down 1.3 %

NYSE:WKC opened at $27.39 on Friday. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The firm has a market capitalization of $1.55 billion, a P/E ratio of 25.84, 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. The business has a 50 day simple moving average of $28.31 and a 200 day simple moving average of $28.63.

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

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.48%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s payout ratio is currently 64.15%.

Wall Street Analyst Weigh In

Separately, Stifel Nicolaus lowered their price objective on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.80.

World Kinect 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.