Amundi Buys 152,750 Shares of World Kinect Co. (NYSE:WKC)

Amundi boosted its stake in shares of World Kinect Co. (NYSE:WKC) by 1,254.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 164,928 shares of the company’s stock after acquiring an additional 152,750 shares during the period. Amundi owned 0.28% of World Kinect worth $4,536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. QRG Capital Management Inc. boosted its position in shares of World Kinect by 3.7% during the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock worth $400,000 after acquiring an additional 517 shares in the last quarter. Highland Capital Management LLC increased its stake in shares of World Kinect by 6.7% in the 4th quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of World Kinect during the 4th quarter worth $25,000. Wilmington Savings Fund Society FSB acquired a new stake in World Kinect in the third quarter valued at about $31,000. Finally, Quarry LP grew its position in World Kinect by 3,600.0% in the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after acquiring an additional 1,044 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Price Performance

World Kinect stock opened at $27.96 on Friday. The stock has a 50-day moving average price of $28.32 and a two-hundred day moving average price of $28.63. World Kinect Co. has a 12 month low of $21.38 and a 12 month high of $31.71. The company has a market capitalization of $1.59 billion, a PE ratio of 26.37, a P/E/G 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.

World Kinect (NYSE:WKC) last posted its 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 for the quarter, compared to the consensus estimate of $10.57 billion. Analysts expect that World Kinect Co. will post 2.56 EPS for the current 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 given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.43%. World Kinect’s dividend payout ratio is currently 64.15%.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 21,507 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus reduced 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 note on Friday, February 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $29.80.

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.