AQR Capital Management LLC Has $3.93 Million Stock Holdings in World Kinect Co. (NYSE:WKC)

AQR Capital Management LLC lowered its position in shares of World Kinect Co. (NYSE:WKC) by 11.9% in the second quarter, HoldingsChannel reports. The fund owned 152,328 shares of the company’s stock after selling 20,585 shares during the period. AQR Capital Management LLC’s holdings in World Kinect were worth $3,930,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in WKC. Vanguard Group Inc. boosted its holdings in World Kinect by 2.1% during the first quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock worth $186,637,000 after purchasing an additional 146,899 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in World Kinect by 3.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after buying an additional 140,314 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of World Kinect by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,631,393 shares of the company’s stock worth $43,150,000 after buying an additional 52,930 shares during the last quarter. Boston Partners grew its holdings in shares of World Kinect by 12.4% in the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after acquiring an additional 149,433 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of World Kinect by 6.5% in the second quarter. LSV Asset Management now owns 1,257,381 shares of the company’s stock valued at $32,440,000 after acquiring an additional 76,700 shares during the last quarter. 97.06% of the stock is owned by institutional investors.

World Kinect Stock Performance

WKC opened at $31.02 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $31.70. The business has a 50 day moving average of $28.55 and a 200-day moving average of $26.59. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 33.35, a PEG ratio of 1.06 and a beta of 1.25.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same period in the prior year, the business earned $0.48 EPS. The company’s revenue for the quarter was down .1% compared to the same quarter last year. On average, equities research analysts expect that World Kinect Co. will post 2.15 earnings per share for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be paid a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.19%. World Kinect’s dividend payout ratio (DPR) is currently 73.12%.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on WKC. Morgan Stanley cut World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price target for the company. in a research report on Monday, September 16th. Bank of America increased their price objective on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a report on Friday, September 13th. Stifel Nicolaus lowered their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Finally, JPMorgan Chase & Co. upped their price target on shares of World Kinect from $29.00 to $32.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.40.

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.