1,163,922 Shares in World Kinect Co. (NYSE:WKC) Acquired by River Road Asset Management LLC

River Road Asset Management LLC purchased a new position in shares of World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,163,922 shares of the company's stock, valued at approximately $26,514,000. River Road Asset Management LLC owned about 1.93% of World Kinect at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB bought a new stake in shares of World Kinect during the fourth quarter worth approximately $3,843,000. Nisa Investment Advisors LLC bought a new stake in World Kinect in the fourth quarter valued at approximately $1,421,000. New York State Teachers Retirement System bought a new stake in World Kinect in the fourth quarter valued at approximately $2,584,000. CX Institutional bought a new stake in World Kinect in the fourth quarter valued at approximately $3,594,000. Finally, Pinnacle Associates Ltd. bought a new stake in World Kinect in the fourth quarter valued at approximately $1,123,000. 97.06% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on WKC. JPMorgan Chase & Co. began coverage on shares of World Kinect in a research note on Wednesday, February 21st. They issued a "neutral" rating and a $25.00 target price for the company. Bank of America upped their price target on shares of World Kinect from $23.00 to $26.00 and gave the company an "underperform" rating in a report on Thursday, March 14th. Finally, Raymond James upped their price target on shares of World Kinect from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, World Kinect currently has a consensus rating of "Hold" and an average price target of $26.75.

World Kinect Stock Down 0.5 %

WKC traded down $0.13 during trading hours on Thursday, hitting $24.24. 320,372 shares of the company's stock were exchanged, compared to its average volume of 552,693. World Kinect Co. has a 1-year low of $17.69 and a 1-year high of $26.83. The stock's 50-day moving average is $25.02 and its two-hundred day moving average is $22.71. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 29.13, a PEG ratio of 2.19 and a beta of 1.26. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.42.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, February 22nd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. The business had revenue of $12 billion during the quarter, compared to analysts' expectations of $12.23 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Sell-side analysts predict that World Kinect Co. will post 2.25 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were issued a dividend of $0.17 per share. This is a boost from World Kinect's previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 22nd. This represents a $0.68 annualized dividend and a yield of 2.81%. World Kinect's dividend payout ratio is presently 80.95%.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 20,000 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the transaction, the director now owns 75,375 shares in the company, valued at $1,836,888.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is currently owned by corporate insiders.

World Kinect Profile

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.