Teacher Retirement System of Texas Purchases 6,733 Shares of World Kinect Co. (NYSE:WKC)

Teacher Retirement System of Texas increased its position in shares of World Kinect Co. (NYSE:WKC) by 64.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,161 shares of the company’s stock after buying an additional 6,733 shares during the period. Teacher Retirement System of Texas’ holdings in World Kinect were worth $472,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WKC. Hennessy Advisors Inc. bought a new position in shares of World Kinect in the 4th quarter worth about $50,707,000. Boston Partners increased its holdings in World Kinect by 4.4% in the fourth quarter. Boston Partners now owns 1,492,026 shares of the company’s stock worth $41,226,000 after purchasing an additional 63,234 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in World Kinect by 0.3% in the third 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. Geode Capital Management LLC lifted its stake in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after buying an additional 22,077 shares during the period. Finally, Principal Financial Group Inc. grew its position in shares of World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after buying an additional 56,952 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insider Activity at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction that occurred 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 $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.90% of the stock is owned by insiders.

World Kinect Trading Down 0.5 %

Shares of World Kinect stock opened at $28.37 on Tuesday. The stock has a market capitalization of $1.61 billion, a PE ratio of 26.77, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.71. The stock has a 50 day moving average price of $28.51 and a two-hundred day moving average price of $28.65. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business had revenue of $9.76 billion during the quarter, compared to the consensus estimate of $10.57 billion. As a group, equities analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.40%. World Kinect’s dividend payout ratio is presently 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.