Northern Trust Corp Purchases 41,227 Shares of World Kinect Co. (NYSE:WKC)

Northern Trust Corp grew its holdings in World Kinect Co. (NYSE:WKC) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 702,751 shares of the company’s stock after purchasing an additional 41,227 shares during the period. Northern Trust Corp’s holdings in World Kinect were worth $19,333,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Barclays PLC boosted its stake in World Kinect by 18.6% in the third quarter. Barclays PLC now owns 256,126 shares of the company’s stock valued at $7,918,000 after acquiring an additional 40,233 shares during the last quarter. Principal Financial Group Inc. raised 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 valued at $41,465,000 after acquiring an additional 56,952 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of World Kinect in the 4th quarter valued at $2,055,000. Hennessy Advisors Inc. bought a new position in shares of World Kinect in the 4th quarter worth $50,707,000. Finally, Inspire Investing LLC grew its stake in shares of World Kinect by 10.0% during the fourth quarter. Inspire Investing LLC now owns 14,620 shares of the company’s stock worth $402,000 after purchasing an additional 1,324 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on WKC shares. Stifel Nicolaus dropped their price objective on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Bank of America lowered their price target on World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a research note on Friday, April 25th.

World Kinect Stock Performance

Shares of World Kinect stock opened at $27.67 on Wednesday. World Kinect Co. has a 12 month low of $22.71 and a 12 month high of $31.71. The stock’s fifty day simple moving average is $26.18 and its 200 day simple moving average is $27.43. The company has a market capitalization of $1.57 billion, a PE ratio of 26.10, a PEG ratio of 0.89 and a beta of 1.34. 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 (NYSE:WKC) last released its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.03. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.45 billion for the quarter, compared to analysts’ expectations of $10.47 billion. During the same quarter in the previous year, the business posted $0.47 EPS. World Kinect’s revenue for the quarter was down 13.7% on a year-over-year basis. On average, research analysts predict that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 16th. Stockholders of record on Monday, March 31st were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is presently 283.33%.

Insider Transactions at World Kinect

In related news, CEO Michael J. Kasbar sold 21,507 shares of the business’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 sale, 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 legal filing with the SEC, which can be accessed through this hyperlink. 3.20% of the stock is owned by insiders.

About World Kinect

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.