Cornercap Investment Counsel Inc. acquired a new stake in World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 47,490 shares of the company's stock, valued at approximately $1,082,000. Cornercap Investment Counsel Inc. owned 0.08% of World Kinect at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its position in shares of World Kinect by 1,982.1% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,395 shares of the company's stock valued at $38,000 after buying an additional 1,328 shares during the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in World Kinect during the 4th quarter worth about $32,000. Allworth Financial LP purchased a new stake in World Kinect during the 4th quarter worth about $35,000. Quarry LP lifted its holdings in World Kinect by 154.9% during the 1st quarter. Quarry LP now owns 1,550 shares of the company's stock worth $40,000 after purchasing an additional 942 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in World Kinect by 382.1% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company's stock worth $50,000 after purchasing an additional 1,555 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.
Wall Street Analyst Weigh In
WKC has been the topic of a number of recent research reports. Raymond James increased their price objective on World Kinect from $30.00 to $32.00 and gave the stock an "outperform" rating in a report on Wednesday, April 3rd. JPMorgan Chase & Co. initiated coverage on World Kinect in a report on Wednesday, February 21st. They set a "neutral" rating and a $25.00 price objective on the stock. Finally, Bank of America increased their price objective on World Kinect from $23.00 to $26.00 and gave the stock an "underperform" rating in a report on Thursday, March 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, World Kinect has an average rating of "Hold" and a consensus price target of $26.75.
Read Our Latest Report on WKC
World Kinect Price Performance
Shares of NYSE:WKC traded down $0.39 on Tuesday, hitting $24.55. The company's stock had a trading volume of 351,325 shares, compared to its average volume of 557,361. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 0.95. The company has a market capitalization of $1.47 billion, a PE ratio of 29.23, a PEG ratio of 2.25 and a beta of 1.26. The company has a 50-day simple moving average of $24.99 and a 200 day simple moving average of $22.68. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.83.
World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 EPS for the quarter, beating the consensus estimate of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period in the prior year, the company earned $0.54 EPS. Sell-side analysts forecast that World Kinect Co. will post 2.25 EPS for the current fiscal year.
World Kinect Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date is Friday, March 22nd. This is a boost from World Kinect's previous quarterly dividend of $0.14. World Kinect's dividend payout ratio (DPR) is presently 80.95%.
Insider Activity
In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the business's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the sale, the director now directly owns 75,375 shares of the company's stock, valued at $1,836,888.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.
About World Kinect
(
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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