LSV Asset Management purchased a new stake in shares of World Kinect Co. (NYSE:WKC - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The firm purchased 1,157,812 shares of the company's stock, valued at approximately $26,375,000. LSV Asset Management owned approximately 1.92% of World Kinect as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Headlands Technologies LLC acquired a new stake in World Kinect in the 4th quarter valued at about $29,000. Allspring Global Investments Holdings LLC bought a new stake in World Kinect during the fourth quarter worth approximately $32,000. Allworth Financial LP acquired a new position in World Kinect in the fourth quarter worth approximately $35,000. Parkside Financial Bank & Trust bought a new position in shares of World Kinect in the fourth quarter valued at $45,000. Finally, SG Americas Securities LLC acquired a new stake in shares of World Kinect during the 4th quarter valued at $142,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
WKC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. initiated coverage on World Kinect in a research report on Wednesday, February 21st. They set a "neutral" rating and a $25.00 target price on the stock. Raymond James upped their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, April 3rd. Finally, Bank of America lifted their target price on shares of World Kinect from $23.00 to $26.00 and gave the stock an "underperform" rating in a research report on Thursday, March 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $26.75.
Read Our Latest Stock Analysis on WKC
World Kinect Stock Up 0.4 %
Shares of NYSE WKC traded up $0.09 during mid-day trading on Monday, reaching $24.02. The company had a trading volume of 379,685 shares, compared to its average volume of 549,446. The stock has a fifty day moving average of $25.04 and a two-hundred day moving average of $22.96. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.83. The company has a market capitalization of $1.44 billion, a price-to-earnings ratio of 25.83, a PEG ratio of 2.19 and a beta of 1.27. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14.
World Kinect (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.04. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. During the same quarter last year, the business posted $0.54 EPS. As a group, equities research analysts expect that World Kinect Co. will post 2.19 EPS for the current year.
World Kinect Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were paid a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is a boost from World Kinect's previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a yield of 2.83%. World Kinect's payout ratio is 73.12%.
Insiders Place Their Bets
In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the business's stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the sale, the director now owns 75,375 shares of the company's stock, valued at $1,836,888.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.60% of the company's stock.
World Kinect Company Profile
(
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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