Villanova Investment Management Co LLC Cuts Stake in World Kinect Co. (NYSE:WKC)

Villanova Investment Management Co LLC cut its holdings in World Kinect Co. (NYSE:WKC) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,869 shares of the company’s stock after selling 3,760 shares during the period. World Kinect accounts for 2.1% of Villanova Investment Management Co LLC’s holdings, making the stock its 16th biggest holding. Villanova Investment Management Co LLC owned 0.15% of World Kinect worth $2,335,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in WKC. Intech Investment Management LLC purchased a new position in shares of World Kinect in the third quarter worth $454,000. Charles Schwab Investment Management Inc. lifted its stake in World Kinect by 0.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock worth $42,379,000 after purchasing an additional 4,201 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of World Kinect by 369.1% during the 3rd quarter. Edgestream Partners L.P. now owns 63,542 shares of the company’s stock valued at $1,964,000 after purchasing an additional 49,997 shares during the last quarter. HighTower Advisors LLC purchased a new position in shares of World Kinect during the third quarter valued at about $297,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of World Kinect in the third quarter worth about $535,000. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total transaction 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 approximately $29,512,064.48. The trade was a 2.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 2.90% of the company’s stock.

World Kinect Stock Down 0.5 %

Shares of NYSE WKC opened at $28.37 on Tuesday. 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 Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The firm’s 50-day moving average price is $28.51 and its 200-day moving average price is $28.65. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 26.77, a P/E/G 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, beating analysts’ consensus estimates of $0.57 by $0.05. The business had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $10.57 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. On average, equities research analysts anticipate that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.40%. The ex-dividend date is Monday, March 31st. World Kinect’s payout ratio is 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.