World Kinect Co. (NYSE:WKC) Stock Position Decreased by Principal Financial Group Inc.

Principal Financial Group Inc. cut its stake in shares of World Kinect Co. (NYSE:WKC) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,249,391 shares of the company’s stock after selling 92,093 shares during the quarter. Principal Financial Group Inc.’s holdings in World Kinect were worth $34,371,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Rhumbline Advisers boosted its stake in shares of 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 in the last quarter. Legato Capital Management LLC boosted its position in shares of World Kinect by 51.8% in the fourth quarter. Legato Capital Management LLC now owns 61,888 shares of the company’s stock worth $1,703,000 after buying an additional 21,111 shares during the period. Savant Capital LLC boosted its position in shares of World Kinect by 16.5% in the fourth quarter. Savant Capital LLC now owns 7,573 shares of the company’s stock worth $208,000 after buying an additional 1,071 shares during the period. Empowered Funds LLC boosted its position in shares of World Kinect by 5.1% in the fourth quarter. Empowered Funds LLC now owns 315,669 shares of the company’s stock worth $8,684,000 after buying an additional 15,234 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of World Kinect in the fourth quarter worth $2,248,000. 97.06% of the stock is owned by institutional investors.

World Kinect Price Performance

Shares of NYSE:WKC opened at $30.72 on Friday. 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 Co. has a 1 year low of $21.38 and a 1 year high of $31.70. The business has a fifty day simple moving average of $27.89 and a 200 day simple moving average of $28.46. The firm has a market cap of $1.78 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 0.88 and a beta of 1.27.

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

World Kinect Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus decreased their target price on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.