Proficio Capital Partners LLC bought a new stake in World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,762 shares of the company's stock, valued at approximately $516,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Pacer Advisors Inc. acquired a new stake in shares of World Kinect in the 3rd quarter worth approximately $138,806,000. Hennessy Advisors Inc. bought a new stake in World Kinect during the fourth quarter worth approximately $50,707,000. Charles Schwab Investment Management Inc. lifted its position in World Kinect by 0.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company's stock worth $42,379,000 after purchasing an additional 4,201 shares during the period. Geode Capital Management LLC boosted its stake in World Kinect by 1.6% during the 3rd quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company's stock valued at $42,358,000 after purchasing an additional 22,077 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of World Kinect by 4.4% during the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company's stock valued at $41,465,000 after purchasing an additional 56,952 shares during the period. Institutional investors own 97.06% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Stifel Nicolaus cut their price objective on World Kinect from $32.00 to $30.00 and set a "hold" rating for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $29.80.
Get Our Latest Stock Analysis on World Kinect
World Kinect Price Performance
World Kinect stock traded down $0.16 during mid-day trading on Wednesday, hitting $27.79. The company's stock had a trading volume of 704,539 shares, compared to its average volume of 680,587. World Kinect Co. has a twelve month low of $21.38 and a twelve month high of $31.71. The stock's fifty day moving average price is $28.31 and its two-hundred day moving average price is $28.64. The stock has a market capitalization of $1.58 billion, a P/E ratio of 26.22, a P/E/G ratio of 0.89 and a beta of 1.16. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.
World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business had revenue of $9.76 billion for the quarter, compared to analysts' expectations of $10.57 billion. Research analysts forecast that World Kinect Co. will post 2.56 earnings per share for the current year.
World Kinect Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were paid a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.45%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect's dividend payout ratio is presently 64.15%.
Insiders Place Their Bets
In other news, CEO Michael J. Kasbar sold 21,507 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now owns 1,019,063 shares of the company's stock, valued at $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 is available at this link. Corporate insiders own 2.90% of the company's stock.
World Kinect Profile
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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.
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