World Kinect (NYSE:WKC) Shares Gap Down to $25.53

World Kinect Co. (NYSE:WKC)’s share price gapped down before the market opened on Monday . The stock had previously closed at $25.53, but opened at $25.01. World Kinect shares last traded at $24.89, with a volume of 90,310 shares.

Wall Street Analyst Weigh In

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

World Kinect Stock Performance

The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 26.79, a PEG ratio of 0.86 and a beta of 1.30. The company’s 50-day simple moving average is $25.09 and its 200-day simple moving average is $24.03. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, April 25th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). World Kinect had a return on equity of 6.39% and a net margin of 0.12%. The company had revenue of $10.95 billion for the quarter, compared to the consensus estimate of $12.29 billion. On average, analysts expect that World Kinect Co. will post 2.2 EPS for the current year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, June 17th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.66%. The ex-dividend date of this dividend is Monday, June 17th. World Kinect’s payout ratio is presently 73.12%.

Insiders Place Their Bets

In other news, Director Ken Bakshi sold 10,936 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.07, for a total transaction of $263,229.52. Following the completion of the sale, the director now directly owns 41,545 shares in the company, valued at $999,988.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On World Kinect

Several large investors have recently added to or reduced their stakes in the business. Nordea Investment Management AB acquired a new position in shares of World Kinect during the fourth quarter valued at about $3,843,000. Nisa Investment Advisors LLC bought a new position in World Kinect in the fourth quarter worth approximately $1,421,000. Trexquant Investment LP acquired a new stake in World Kinect in the fourth quarter valued at approximately $1,262,000. Panagora Asset Management Inc. bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $4,100,000. Finally, Semanteon Capital Management LP acquired a new position in shares of World Kinect during the fourth quarter worth approximately $1,248,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

About World Kinect

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.