Norges Bank acquired a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 120,501 shares of the company's stock, valued at approximately $3,315,000. Norges Bank owned about 0.21% of World Kinect at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in WKC. Mitsubishi UFJ Trust & Banking Corp boosted its position in shares of World Kinect by 3.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company's stock worth $885,000 after purchasing an additional 947 shares in the last quarter. LPL Financial LLC increased its position in shares of World Kinect by 16.0% in the 4th quarter. LPL Financial LLC now owns 42,448 shares of the company's stock valued at $1,168,000 after acquiring an additional 5,861 shares during the period. KLP Kapitalforvaltning AS purchased a new position in World Kinect in the 4th quarter worth $1,137,000. Sei Investments Co. grew its stake in World Kinect by 49.9% during the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company's stock valued at $904,000 after purchasing an additional 10,944 shares during the last quarter. Finally, Quantbot Technologies LP increased its holdings in World Kinect by 17.4% in the 4th quarter. Quantbot Technologies LP now owns 101,873 shares of the company's stock worth $2,803,000 after buying an additional 15,127 shares during the period. 97.06% of the stock is currently owned by institutional investors.
World Kinect Price Performance
WKC traded down $0.18 during midday trading on Wednesday, hitting $23.66. 44,152 shares of the company traded hands, compared to its average volume of 742,399. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 0.89 and a beta of 1.19. World Kinect Co. has a 52-week low of $21.38 and a 52-week high of $31.71. The business has a 50 day simple moving average of $27.59 and a two-hundred day simple moving average of $28.19. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.
World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.76 billion during the quarter, compared to analysts' expectations of $10.57 billion. On average, equities analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.
World Kinect Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Shareholders of record on Monday, March 31st will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.68 dividend on an annualized basis and a yield of 2.87%. World Kinect's payout ratio is 64.15%.
Analysts Set New Price Targets
Separately, Stifel Nicolaus lowered their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research report on Friday, February 21st.
Check Out Our Latest Research Report on World Kinect
Insiders Place Their Bets
In related news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total transaction of $622,842.72. Following the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. This trade represents a 2.07 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.90% of the company's stock.
World Kinect Company Profile
(
Free Report)
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.
Further Reading
Before you consider World Kinect, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and World Kinect wasn't on the list.
While World Kinect currently has a Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
