6,219 Shares in World Kinect Co. (NYSE:WKC) Purchased by SG Americas Securities LLC

SG Americas Securities LLC purchased a new position in World Kinect Co. (NYSE:WKC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 6,219 shares of the company’s stock, valued at approximately $142,000.

Several other institutional investors have also modified their holdings of the business. JPMorgan Chase & Co. increased its holdings in World Kinect by 29.1% in the first quarter. JPMorgan Chase & Co. now owns 414,024 shares of the company’s stock valued at $11,195,000 after buying an additional 93,316 shares during the last quarter. Citigroup Inc. increased its holdings in World Kinect by 16.8% in the first quarter. Citigroup Inc. now owns 104,723 shares of the company’s stock valued at $2,832,000 after buying an additional 15,101 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in World Kinect by 125.6% in the first quarter. PNC Financial Services Group Inc. now owns 5,155 shares of the company’s stock valued at $140,000 after buying an additional 2,870 shares during the last quarter. Bank of Montreal Can increased its holdings in World Kinect by 20.0% in the first quarter. Bank of Montreal Can now owns 46,590 shares of the company’s stock valued at $1,302,000 after buying an additional 7,771 shares during the last quarter. Finally, MetLife Investment Management LLC increased its holdings in World Kinect by 56.5% in the first quarter. MetLife Investment Management LLC now owns 33,929 shares of the company’s stock valued at $917,000 after buying an additional 12,255 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

Several analysts recently weighed in on WKC shares. JPMorgan Chase & Co. started coverage on World Kinect in a report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price objective for the company. Raymond James upped their target price on World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, Bank of America upped their target price on World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $26.75.

World Kinect Stock Performance

WKC opened at $24.55 on Wednesday. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 29.23, 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 current ratio of 1.11 and a quick ratio of 0.95. World Kinect Co. has a 1-year low of $17.69 and a 1-year high of $26.83. The business has a 50 day moving average price of $24.99 and a two-hundred day moving average price of $22.68.

World Kinect (NYSE:WKC) last released 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. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. During the same period in the prior year, the firm posted $0.54 earnings per share. Research analysts predict that World Kinect Co. will post 2.25 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio is 80.95%.

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.