Amundi Purchases 152,750 Shares of World Kinect Co. (NYSE:WKC)

Amundi lifted its holdings in World Kinect Co. (NYSE:WKC) by 1,254.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 164,928 shares of the company’s stock after buying an additional 152,750 shares during the period. Amundi’s holdings in World Kinect were worth $4,536,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WKC. HHM Wealth Advisors LLC acquired a new stake in World Kinect during the fourth quarter worth approximately $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of World Kinect during the 3rd quarter worth approximately $31,000. Quarry LP increased its stake in shares of World Kinect by 3,600.0% in the 3rd quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after acquiring an additional 1,044 shares in the last quarter. Centricity Wealth Management LLC acquired a new position in shares of World Kinect during the 4th quarter valued at $74,000. Finally, KBC Group NV boosted its stake in World Kinect by 60.2% during the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock worth $99,000 after acquiring an additional 1,351 shares in the last quarter. 97.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 2.90% of the company’s stock.

World Kinect Price Performance

Shares of WKC opened at $27.96 on Friday. The stock has a market cap of $1.59 billion, a P/E ratio of 26.37, a P/E/G ratio of 0.89 and a beta of 1.16. The business’s fifty day moving average is $28.32 and its 200 day moving average is $28.63. The company has a quick ratio of 0.99, a current ratio of 1.16 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.

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. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.76 billion during the quarter, compared to analysts’ expectations of $10.57 billion. Sell-side analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. World Kinect’s dividend payout ratio is currently 64.15%.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus dropped their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two equities 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 stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target 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.