American Century Companies Inc. Decreases Position in World Kinect Corporation $WKC

American Century Companies Inc. reduced its position in World Kinect Corporation (NYSE:WKC) by 53.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 438,388 shares of the company’s stock after selling 494,850 shares during the quarter. American Century Companies Inc. owned 0.77% of World Kinect worth $12,433,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of WKC. LSV Asset Management grew its holdings in World Kinect by 29.0% during the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company’s stock worth $43,959,000 after acquiring an additional 348,214 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in World Kinect by 24.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company’s stock valued at $30,804,000 after purchasing an additional 216,903 shares during the last quarter. Northern Trust Corp increased its holdings in World Kinect by 6.2% in the 4th quarter. Northern Trust Corp now owns 702,751 shares of the company’s stock worth $19,333,000 after buying an additional 41,227 shares during the period. Ameriprise Financial Inc. increased its stake in shares of World Kinect by 118.7% in the fourth quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company’s stock worth $17,378,000 after acquiring an additional 342,823 shares during the period. Finally, Bridgeway Capital Management LLC raised its stake in shares of World Kinect by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 569,103 shares of the company’s stock valued at $15,656,000 after buying an additional 15,234 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

Shares of NYSE WKC opened at $26.6050 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The firm has a fifty day moving average of $27.48 and a 200 day moving average of $27.23. The firm has a market cap of $1.48 billion, a PE ratio of -3.49, a PEG ratio of 1.21 and a beta of 1.39. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.11. The business had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. As a group, research analysts predict that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were paid a dividend of $0.20 per share. This is an increase from World Kinect’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.0%. World Kinect’s dividend payout ratio (DPR) is presently -10.48%.

Analyst Ratings Changes

A number of brokerages have issued reports on WKC. Raymond James Financial reissued an “outperform” rating and issued a $33.00 price target (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley lowered their price target on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, World Kinect currently has a consensus rating of “Reduce” and a consensus target price of $29.40.

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.