World Kinect Co. (NYSE:WKC) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp decreased its holdings in shares of World Kinect Co. (NYSE:WKC) by 99.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 39,900 shares of the company’s stock after selling 6,500,000 shares during the period. Alberta Investment Management Corp owned approximately 0.07% of World Kinect worth $1,098,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WKC. Rhumbline Advisers lifted its position in World Kinect by 7.3% during the 4th quarter. Rhumbline Advisers now owns 208,980 shares of the company’s stock worth $5,749,000 after acquiring an additional 14,233 shares during the period. Legato Capital Management LLC raised its stake in shares of World Kinect by 51.8% during the fourth quarter. Legato Capital Management LLC now owns 61,888 shares of the company’s stock worth $1,703,000 after purchasing an additional 21,111 shares during the last quarter. Savant Capital LLC lifted its holdings in shares of World Kinect by 16.5% during the fourth quarter. Savant Capital LLC now owns 7,573 shares of the company’s stock worth $208,000 after purchasing an additional 1,071 shares during the period. Empowered Funds LLC grew its position in World Kinect by 5.1% in the 4th quarter. Empowered Funds LLC now owns 315,669 shares of the company’s stock valued at $8,684,000 after buying an additional 15,234 shares during the last quarter. Finally, Kingsview Wealth Management LLC acquired a new position in World Kinect in the 4th quarter valued at $2,248,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday. 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, the company currently has a consensus rating of “Hold” and a consensus price target of $29.80.

World Kinect Trading Up 11.3 %

Shares of WKC stock opened at $30.72 on Friday. The business’s fifty day moving average price is $27.89 and its 200 day moving average price is $28.46. The firm has a market capitalization of $1.78 billion, a PE ratio of 13.65, a P/E/G ratio of 0.88 and a beta of 1.27. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. World Kinect Co. has a 1-year low of $21.38 and a 1-year high of $31.70.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The business had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. As a group, sell-side analysts forecast that World Kinect Co. will post 2.08 EPS for the current fiscal year.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were given a dividend of $0.17 per share. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. World Kinect’s payout ratio is 30.22%.

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.