New York State Teachers Retirement System Invests $2.58 Million in World Kinect Co. (NYSE:WKC)

New York State Teachers Retirement System acquired a new position in World Kinect Co. (NYSE:WKC) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 113,415 shares of the company’s stock, valued at approximately $2,584,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allworth Financial LP bought a new stake in World Kinect in the 4th quarter valued at about $35,000. Arizona State Retirement System bought a new stake in World Kinect in the 4th quarter valued at about $383,000. Pinnacle Associates Ltd. bought a new stake in World Kinect in the 4th quarter valued at about $1,123,000. State of Alaska Department of Revenue bought a new stake in World Kinect in the 4th quarter valued at about $843,000. Finally, Assenagon Asset Management S.A. bought a new stake in World Kinect in the 4th quarter valued at about $12,990,000. 97.06% of the stock is owned by institutional investors.

Insider Transactions at World Kinect

In other news, Director Paul H. Stebbins sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the transaction, the director now owns 75,375 shares in the company, valued at approximately $1,836,888.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on WKC shares. Raymond James boosted their target price on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. JPMorgan Chase & Co. initiated coverage on World Kinect in a research report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 target price for the company. Finally, Bank of America lifted their price target on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a research note on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.75.

World Kinect Price Performance

WKC stock opened at $24.94 on Tuesday. The company has a market capitalization of $1.49 billion, a P/E ratio of 29.69, a price-to-earnings-growth ratio of 2.25 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.11. World Kinect Co. has a 52-week low of $17.69 and a 52-week high of $26.83. The business has a 50-day simple moving average of $24.99 and a two-hundred day simple moving average of $22.68.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.23 billion. During the same quarter in the previous year, the business earned $0.54 EPS. Research analysts expect that World Kinect Co. will post 2.25 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s payout ratio is presently 80.95%.

World Kinect 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.