World Kinect Co. (NYSE:WKC) Raises Dividend to $0.20 Per Share

World Kinect Co. (NYSE:WKC - Get Free Report) declared a quarterly dividend on Thursday, June 5th, RTT News reports. Stockholders of record on Tuesday, June 17th will be paid a dividend of 0.20 per share on Wednesday, July 16th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Tuesday, June 17th. This is a 17.6% increase from World Kinect's previous quarterly dividend of $0.17.

World Kinect has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Research analysts expect World Kinect to earn $3.09 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 22.0%.

World Kinect Stock Up 1.9%

WKC traded up $0.53 during trading on Friday, hitting $28.04. The company had a trading volume of 603,244 shares, compared to its average volume of 782,288. The company has a market capitalization of $1.59 billion, a PE ratio of 26.45, a PEG ratio of 0.89 and a beta of 1.35. World Kinect has a one year low of $22.71 and a one year high of $31.71. The firm's 50-day moving average price is $25.90 and its 200 day moving average price is $27.44. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.45 by $0.03. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The firm had revenue of $9.45 billion for the quarter, compared to analysts' expectations of $10.47 billion. During the same period in the previous year, the firm posted $0.47 EPS. The company's revenue for the quarter was down 13.7% on a year-over-year basis. As a group, equities analysts expect that World Kinect will post 2.56 earnings per share for the current year.

Institutional Trading of World Kinect

Institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of World Kinect by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock worth $963,000 after acquiring an additional 1,497 shares during the period. Intech Investment Management LLC lifted its holdings in shares of World Kinect by 95.5% during the 1st quarter. Intech Investment Management LLC now owns 47,437 shares of the company's stock worth $1,345,000 after acquiring an additional 23,176 shares during the period. Royal Bank of Canada lifted its stake in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company's stock valued at $1,934,000 after purchasing an additional 1,481 shares during the last quarter. AQR Capital Management LLC lifted its stake in World Kinect by 16.5% in the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company's stock valued at $3,380,000 after purchasing an additional 16,874 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in World Kinect by 18.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company's stock valued at $6,262,000 after purchasing an additional 34,807 shares during the last quarter. Institutional investors own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WKC. Stifel Nicolaus lowered their price objective on shares of World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a research note on Friday, February 21st. Bank of America cut their price objective on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a report on Friday, April 25th.

World Kinect Company 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.