World Kinect Co. (NYSE:WKC) Shares Acquired by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in World Kinect Co. (NYSE:WKC) by 155.0% in the fourth quarter, HoldingsChannel.com reports. The firm owned 86,007 shares of the company’s stock after buying an additional 52,284 shares during the quarter. State of Alaska Department of Revenue’s holdings in World Kinect were worth $2,366,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in WKC. Highland Capital Management LLC lifted its holdings in shares of World Kinect by 6.7% in 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 during the last quarter. HHM Wealth Advisors LLC purchased a new position in shares of World Kinect during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in World Kinect during the 3rd quarter worth $31,000. Quarry LP raised its holdings in shares of 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 during the last quarter. Finally, Inspire Investing LLC raised its stake in World Kinect by 10.0% during the 4th quarter. Inspire Investing LLC now owns 14,620 shares of the company’s stock valued at $402,000 after acquiring an additional 1,324 shares during the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Price Performance

Shares of WKC opened at $28.26 on Tuesday. The firm has a market capitalization of $1.64 billion, a PE ratio of 12.56, a P/E/G ratio of 0.92 and a beta of 1.27. The stock’s 50 day moving average is $28.01 and its two-hundred day moving average is $28.42. World Kinect Co. has a twelve month low of $21.38 and a twelve month high of $31.70. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Monday, December 23rd. World Kinect’s dividend payout ratio is presently 30.22%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered World Kinect from a “buy” rating to a “hold” rating and dropped their target price for the company from $33.00 to $32.00 in a report on Friday, October 25th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat, World Kinect has an average rating of “Hold” and a consensus target price of $30.20.

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.