World Kinect (NYSE:WKC) Sets New 1-Year High at $29.75

World Kinect Co. (NYSE:WKC) hit a new 52-week high on Tuesday . The stock traded as high as $29.75 and last traded at $29.71, with a volume of 55121 shares changing hands. The stock had previously closed at $29.32.

Wall Street Analyst Weigh In

WKC has been the subject of several research reports. Bank of America raised their target price on World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research note on Friday. Morgan Stanley downgraded World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a report on Monday. Finally, Stifel Nicolaus cut their target price on World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, World Kinect presently has a consensus rating of “Hold” and a consensus target price of $29.00.

World Kinect Stock Performance

The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39. The company’s 50-day moving average is $27.31 and its two-hundred day moving average is $26.00. The firm has a market cap of $1.80 billion, a P/E ratio of 31.53, a PEG ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The company had revenue of $10.97 billion for the quarter, compared to analysts’ expectations of $11.98 billion. During the same period in the previous year, the firm earned $0.48 EPS. The firm’s quarterly revenue was down .1% on a year-over-year basis. As a group, equities analysts predict that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be issued a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 annualized dividend and a dividend yield of 2.26%. World Kinect’s dividend payout ratio is currently 73.12%.

Insider Buying and Selling

In related news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director John L. Manley sold 16,000 shares of the stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at approximately $1,403,083.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The disclosure for this sale can be found here. 2.90% of the stock is owned by corporate insiders.

Institutional Trading of World Kinect

A number of large investors have recently bought and sold shares of WKC. Vanguard Group Inc. lifted its stake in shares of World Kinect by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock valued at $186,637,000 after buying an additional 146,899 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock worth $106,471,000 after acquiring an additional 140,314 shares during the period. Brandes Investment Partners LP boosted its holdings in shares of World Kinect by 10.6% in the second quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock worth $76,714,000 after acquiring an additional 284,560 shares during the period. Principal Financial Group Inc. grew its position in shares of World Kinect by 3.4% in the first quarter. Principal Financial Group Inc. now owns 1,631,393 shares of the company’s stock valued at $43,150,000 after purchasing an additional 52,930 shares in the last quarter. Finally, Boston Partners raised its stake in shares of World Kinect by 12.4% during the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock valued at $35,263,000 after purchasing an additional 149,433 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

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.