World Kinect (NYSE:WKC) Price Target Cut to $30.00 by Analysts at Stifel Nicolaus

World Kinect (NYSE:WKC - Free Report) had its target price lowered by Stifel Nicolaus from $32.00 to $30.00 in a research report released on Friday,Benzinga reports. The firm currently has a hold rating on the stock.

World Kinect Stock Down 1.5 %

Shares of WKC traded down $0.47 during midday trading on Friday, hitting $30.11. The company had a trading volume of 1,097,482 shares, compared to its average volume of 647,240. 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 has a 52 week low of $21.38 and a 52 week high of $31.70. The company's 50 day moving average price is $27.94 and its 200 day moving average price is $28.52. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of 28.41, a PEG ratio of 0.89 and a beta of 1.27.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating 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 analyst estimates of $10.57 billion. On average, equities research analysts predict that World Kinect will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date was Monday, December 23rd. World Kinect's dividend payout ratio is presently 64.15%.

Institutional Trading of World Kinect

A number of institutional investors and hedge funds have recently modified their holdings of WKC. Pacer Advisors Inc. acquired a new position in shares of World Kinect in the 3rd quarter valued at about $138,806,000. Hennessy Advisors Inc. acquired a new position in World Kinect in the fourth quarter valued at approximately $50,707,000. Invesco Ltd. grew its holdings in shares of World Kinect by 30.6% during the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock valued at $84,399,000 after purchasing an additional 719,631 shares during the last quarter. Millennium Management LLC grew its holdings in shares of World Kinect by 639.9% during the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after purchasing an additional 440,168 shares during the last quarter. Finally, EVR Research LP raised its position in shares of World Kinect by 163.0% during the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after purchasing an additional 440,000 shares during the period. 97.06% of the stock is 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.