Victory Capital Management Inc. purchased a new stake in shares of World Kinect Co. (NYSE:WKC - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 447,125 shares of the company's stock, valued at approximately $10,186,000. Victory Capital Management Inc. owned 0.74% of World Kinect as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently modified their holdings of WKC. Vanguard Group Inc. bought a new position in World Kinect in the 3rd quarter worth about $157,793,000. Exchange Traded Concepts LLC bought a new position in shares of World Kinect in the fourth quarter worth approximately $777,000. Nordea Investment Management AB purchased a new stake in World Kinect in the fourth quarter valued at approximately $3,843,000. North Star Investment Management Corp. purchased a new position in World Kinect in the 4th quarter worth approximately $1,139,000. Finally, Legacy Wealth Asset Management LLC bought a new position in shares of World Kinect in the 4th quarter worth $208,000. 97.06% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several research analysts recently issued reports on the stock. Raymond James upped their target price on shares of World Kinect from $30.00 to $32.00 and gave the stock an "outperform" rating in a research 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 upped their target price on World Kinect from $23.00 to $26.00 and gave the stock an "underperform" rating in a research note on Thursday, March 14th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat.com, World Kinect currently has a consensus rating of "Hold" and a consensus target price of $26.75.
Get Our Latest Stock Analysis on WKC
World Kinect Trading Up 1.3 %
Shares of NYSE WKC traded up $0.31 during mid-day trading on Monday, hitting $24.98. The stock had a trading volume of 280,235 shares, compared to its average volume of 542,343. The business has a 50 day moving average price of $25.05 and a two-hundred day moving average price of $23.13. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.83. The firm has a market cap of $1.50 billion, a P/E ratio of 26.86, a price-to-earnings-growth ratio of 2.26 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 quarterly earnings data 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 business had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.23 billion. During the same period in the previous year, the firm earned $0.54 EPS. On average, equities analysts anticipate that World Kinect Co. will post 2.19 EPS for the current fiscal year.
World Kinect Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th were given a $0.17 dividend. The ex-dividend date of this dividend was Friday, March 22nd. This is an increase from World Kinect's previous quarterly dividend of $0.14. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.72%. World Kinect's dividend payout ratio is currently 73.12%.
Insider Buying and Selling
In related news, Director Paul H. Stebbins sold 20,000 shares of the business's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $24.37, for a total transaction of $487,400.00. Following the sale, the director now owns 75,375 shares of the company's stock, valued at $1,836,888.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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. Also, Director Ken Bakshi sold 10,936 shares of the firm's stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.07, for a total value of $263,229.52. Following the transaction, the director now owns 41,545 shares of the company's stock, valued at $999,988.15. The disclosure for this sale can be found here. 2.60% of the stock is 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.
Further Reading
Before you consider World Kinect, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and World Kinect wasn't on the list.
While World Kinect currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
