World Kinect Co. (NYSE:WKC) CEO Sells $622,842.72 in Stock

World Kinect Co. (NYSE:WKC - Get Free Report) CEO Michael J. Kasbar sold 21,507 shares of the company's stock in a transaction that occurred 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 directly owns 1,019,063 shares of the company's stock, valued at approximately $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

World Kinect Trading Down 0.1 %

Shares of NYSE:WKC traded down $0.03 during trading on Monday, reaching $28.18. 639,356 shares of the company traded hands, compared to its average volume of 678,640. 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 Co. has a 52-week low of $21.38 and a 52-week high of $31.71. The business's fifty day moving average is $28.27 and its 200-day moving average is $28.65. The firm has a market capitalization of $1.60 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 0.89 and a beta of 1.16.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly 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. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. As a group, analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

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World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect's payout ratio is 64.15%.

Analysts Set New Price Targets

Separately, Stifel Nicolaus reduced their target price on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. Two investment 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's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $29.80.

Institutional Investors Weigh In On World Kinect

Several institutional investors and hedge funds have recently bought and sold shares of the business. Pacer Advisors Inc. purchased a new stake in World Kinect in the third quarter worth $138,806,000. Hennessy Advisors Inc. purchased a new stake in shares of World Kinect in the 4th quarter worth about $50,707,000. Invesco Ltd. boosted its stake in shares of World Kinect by 30.6% during the 4th 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 in the last quarter. Millennium Management LLC increased its position 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 buying an additional 440,168 shares during the period. Finally, EVR Research LP raised its stake in World Kinect by 163.0% in the fourth quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after buying an additional 440,000 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.

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.