Empowered Funds LLC Grows Stock Holdings in World Kinect Co. (NYSE:WKC)

Empowered Funds LLC lifted its holdings in World Kinect Co. (NYSE:WKC) by 5.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 315,669 shares of the company’s stock after acquiring an additional 15,234 shares during the period. Empowered Funds LLC owned approximately 0.54% of World Kinect worth $8,684,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in WKC. HHM Wealth Advisors LLC acquired a new stake in World Kinect in the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of World Kinect in the third quarter valued at about $31,000. Quarry LP raised its holdings in shares of 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 buying an additional 1,044 shares during the period. Hara Capital LLC acquired a new position in World Kinect during the 3rd quarter worth approximately $76,000. Finally, KBC Group NV boosted its holdings in World Kinect by 60.2% in the 4th quarter. KBC Group NV now owns 3,597 shares of the company’s stock worth $99,000 after acquiring an additional 1,351 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

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

World Kinect Trading Down 0.8 %

Shares of WKC opened at $28.22 on Monday. World Kinect Co. has a one year low of $21.38 and a one year high of $31.70. The stock has a 50-day moving average price of $28.01 and a 200 day moving average price of $28.42. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The company has a market capitalization of $1.64 billion, a P/E ratio of 12.54, a P/E/G ratio of 0.92 and a beta of 1.27.

World Kinect Announces Dividend

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

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.