Nomura Holdings Inc. Makes New $8.91 Million Investment in World Kinect Co. (NYSE:WKC)

Nomura Holdings Inc. purchased a new position in shares of World Kinect Co. (NYSE:WKC) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 391,254 shares of the company’s stock, valued at approximately $8,913,000. Nomura Holdings Inc. owned about 0.65% of World Kinect as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of WKC. Headlands Technologies LLC bought a new stake in World Kinect during the fourth quarter valued at $29,000. Allspring Global Investments Holdings LLC acquired a new position in shares of World Kinect in the 4th quarter valued at about $32,000. Allworth Financial LP acquired a new position in shares of World Kinect in the 4th quarter valued at about $35,000. Parkside Financial Bank & Trust bought a new stake in shares of World Kinect during the 4th quarter valued at about $45,000. Finally, Assetmark Inc. acquired a new stake in World Kinect during the fourth quarter worth about $96,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Stock Down 1.3 %

WKC opened at $25.32 on Wednesday. The stock’s fifty day moving average is $25.06 and its 200-day moving average is $24.09. World Kinect Co. has a one year low of $17.69 and a one year high of $26.83. The company has a market capitalization of $1.52 billion, a PE ratio of 27.23, a P/E/G ratio of 0.87 and a beta of 1.30. 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) last posted its quarterly earnings data on Thursday, April 25th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $10.95 billion for the quarter, compared to the consensus estimate of $12.29 billion. On average, equities analysts predict that World Kinect Co. will post 2.2 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th will be issued a $0.17 dividend. The ex-dividend date is Monday, June 17th. This represents a $0.68 annualized dividend and a dividend yield of 2.69%. World Kinect’s dividend payout ratio is currently 73.12%.

Analysts Set New Price Targets

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

Insider Activity

In other World Kinect news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at $999,988.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 2.90% of the company’s stock.

World Kinect 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.