World Kinect (NYSE:WKC) Sets New 12-Month High at $28.77

Shares of World Kinect Co. (NYSE:WKC) hit a new 52-week high during trading on Monday . The company traded as high as $28.77 and last traded at $28.76, with a volume of 16148 shares trading hands. The stock had previously closed at $28.37.

Analyst Ratings Changes

Separately, Stifel Nicolaus cut their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $28.00.

World Kinect Stock Down 0.2 %

The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The firm’s 50 day simple moving average is $26.55 and its two-hundred day simple moving average is $25.59. The firm has a market cap of $1.69 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.05 and a beta of 1.24.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, July 25th. The company reported $0.48 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 firm had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. During the same period in the prior year, the business earned $0.48 earnings per share. World Kinect’s quarterly revenue was down .1% compared to the same quarter last year. On average, equities analysts forecast that World Kinect Co. will post 2.16 EPS for the current year.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th were issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.41%. The ex-dividend date of this dividend was Monday, June 17th. World Kinect’s dividend payout ratio is currently 73.12%.

Insider Buying and Selling at World Kinect

In other World Kinect 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 value 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. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the sale, the director now directly owns 49,614 shares in the company, valued at $1,403,083.92. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On World Kinect

Hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC acquired a new stake in World Kinect during the 4th quarter worth approximately $29,000. Allspring Global Investments Holdings LLC acquired a new stake in World Kinect during the 4th quarter worth approximately $32,000. Innealta Capital LLC acquired a new stake in World Kinect during the 2nd quarter worth approximately $65,000. Assetmark Inc. acquired a new stake in World Kinect during the 4th quarter worth approximately $96,000. Finally, PNC Financial Services Group Inc. acquired a new position in shares of World Kinect in the 4th quarter worth approximately $148,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

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.