World Kinect Co. (NYSE:WKC) Shares Acquired by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA increased its stake in shares of World Kinect Co. (NYSE:WKC) by 3.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,434 shares of the company’s stock after buying an additional 2,865 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in World Kinect were worth $2,204,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System increased its holdings in shares of World Kinect by 1.3% in the 2nd quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock worth $779,000 after acquiring an additional 400 shares during the period. Texas Permanent School Fund Corp increased its stake in shares of World Kinect by 1.3% in the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after purchasing an additional 682 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of World Kinect by 1.1% during the second quarter. Envestnet Asset Management Inc. now owns 70,091 shares of the company’s stock valued at $1,808,000 after buying an additional 773 shares during the last quarter. ProShare Advisors LLC boosted its position in shares of World Kinect by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock worth $319,000 after buying an additional 829 shares during the period. Finally, Bahl & Gaynor Inc. grew its holdings in World Kinect by 0.7% in the 2nd quarter. Bahl & Gaynor Inc. now owns 187,018 shares of the company’s stock worth $4,825,000 after buying an additional 1,292 shares in the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other World Kinect news, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. 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 $28,452,238.96. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on WKC shares. JPMorgan Chase & Co. boosted their price target on World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday. Stifel Nicolaus reduced their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a report on Friday, July 26th. Morgan Stanley lowered shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research report on Monday, September 16th. Finally, Bank of America boosted their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research report on Friday, September 13th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $30.40.

World Kinect Price Performance

NYSE:WKC opened at $31.40 on Monday. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $31.70. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The firm has a market cap of $1.88 billion, a P/E ratio of 33.76, a PEG ratio of 1.08 and a beta of 1.24. The business’s 50-day moving average price is $27.73 and its 200 day moving average price is $26.17.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The firm’s revenue for the quarter was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. As a group, sell-side analysts predict that World Kinect Co. will post 2.15 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, October 16th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s dividend payout ratio is presently 73.12%.

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.