World Kinect Co. (NYSE:WKC) Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans trimmed its position in shares of World Kinect Co. (NYSE:WKC) by 3.3% in the 4th quarter, Holdings Channel.com reports. The firm owned 44,891 shares of the company’s stock after selling 1,515 shares during the period. Thrivent Financial for Lutherans’ holdings in World Kinect were worth $1,235,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Intech Investment Management LLC acquired a new stake in World Kinect in the third quarter valued at approximately $454,000. Charles Schwab Investment Management Inc. increased its position in shares of World Kinect by 0.3% during 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. Edgestream Partners L.P. raised its position in shares of World Kinect by 369.1% in the third quarter. Edgestream Partners L.P. now owns 63,542 shares of the company’s stock valued at $1,964,000 after buying an additional 49,997 shares during the last quarter. HighTower Advisors LLC acquired a new position in World Kinect during the third quarter worth about $297,000. Finally, Point72 Asset Management L.P. purchased a new position in World Kinect in the 3rd quarter worth approximately $535,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.90% of the stock is currently owned by corporate insiders.

World Kinect Price Performance

WKC opened at $28.37 on Tuesday. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 26.77, a PEG ratio of 0.89 and a beta of 1.16. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The stock’s 50-day moving average price is $28.51 and its 200 day moving average price is $28.65. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping 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, sell-side analysts expect that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st will be given a dividend of $0.17 per share. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a dividend yield of 2.40%. World Kinect’s dividend payout ratio (DPR) is currently 64.15%.

Analyst Ratings Changes

Separately, Stifel Nicolaus lowered their price target 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 investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.