Massachusetts Financial Services Co. MA Sells 2,418 Shares of World Kinect Co. (NYSE:WKC)

Massachusetts Financial Services Co. MA cut its holdings in World Kinect Co. (NYSE:WKC) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,995 shares of the company’s stock after selling 2,418 shares during the period. Massachusetts Financial Services Co. MA’s holdings in World Kinect were worth $2,228,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of WKC. Hennessy Advisors Inc. bought a new position in World Kinect in the 4th quarter worth $50,707,000. Great Lakes Advisors LLC purchased a new stake in World Kinect in the fourth quarter worth about $9,182,000. Amundi raised its stake in shares of World Kinect by 1,254.3% in the fourth quarter. Amundi now owns 164,928 shares of the company’s stock worth $4,536,000 after buying an additional 152,750 shares during the period. Norges Bank purchased a new position in shares of World Kinect during the 4th quarter valued at about $3,315,000. Finally, Moran Wealth Management LLC bought a new position in shares of World Kinect during the 4th quarter valued at approximately $2,295,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

NYSE:WKC opened at $23.64 on Wednesday. The stock has a market cap of $1.34 billion, a PE ratio of 22.30, a P/E/G ratio of 0.89 and a beta of 1.19. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The business’s 50-day simple moving average is $28.09 and its two-hundred day simple moving average is $28.45. World Kinect Co. has a 52 week low of $21.38 and a 52 week 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 analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. As a group, analysts forecast that World Kinect Co. will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be paid a dividend of $0.17 per share. The ex-dividend date is Monday, March 31st. This represents a $0.68 annualized dividend and a yield of 2.88%. World Kinect’s payout ratio is 64.15%.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction dated Tuesday, March 4th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

Separately, Stifel Nicolaus decreased 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 note on Friday, February 21st.

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.