Mackenzie Financial Corp Makes New Investment in World Kinect Co. (NYSE:WKC)

Mackenzie Financial Corp bought a new position in shares of World Kinect Co. (NYSE:WKC) during the 4th quarter, Holdings Channel reports. The institutional investor bought 29,348 shares of the company’s stock, valued at approximately $669,000.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC acquired a new stake in World Kinect during the 4th quarter worth approximately $32,000. Allworth Financial LP acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $35,000. SG Americas Securities LLC acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $142,000. EMC Capital Management acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $146,000. Finally, Investors Research Corp acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $151,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Price Performance

Shares of WKC opened at $24.68 on Friday. The company has a market cap of $1.48 billion, a price-to-earnings ratio of 29.38, a PEG ratio of 2.24 and a beta of 1.26. World Kinect Co. has a 1-year low of $17.69 and a 1-year high of $26.83. The company’s fifty day simple moving average is $25.15 and its 200 day simple moving average is $22.83. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42.

World Kinect (NYSE:WKC) last issued 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 business had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.23 billion. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. During the same period in the previous year, the company earned $0.54 earnings per share. On average, research analysts forecast that World Kinect Co. will post 2.25 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders 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 yield of 2.76%. This is a boost from World Kinect’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 22nd. World Kinect’s payout ratio is 80.95%.

Insiders Place Their Bets

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the transaction, the director now directly owns 75,375 shares of the company’s stock, valued at $1,836,888.75. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 2.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on WKC shares. Raymond James lifted their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. started coverage on shares of World Kinect in a report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Bank of America lifted their price objective on shares of World Kinect from $23.00 to $26.00 and gave the company an “underperform” rating in a report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have 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 an average target price of $26.75.

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.