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

World Kinect Co. (NYSE:WKC)’s stock price 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. The stock had previously closed at $29.32.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on WKC shares. Stifel Nicolaus lowered their price objective on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating on the stock in a research note on Friday, July 26th. Bank of America increased their price objective on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a research note on Friday, September 13th. Finally, Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 price objective on the stock. in a research note on Monday. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $29.00.

World Kinect Stock Performance

The company has a market cap of $1.81 billion, a P/E ratio of 32.51, a PEG ratio of 1.08 and a beta of 1.24. The business’s 50 day simple moving average is $27.52 and its 200 day simple moving average is $26.06. The company has a current ratio of 1.15, a quick ratio of 0.98 and a debt-to-equity ratio of 0.39.

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

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Monday, September 30th. World Kinect’s payout ratio is currently 73.12%.

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value 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 $1,403,083.92. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $28,452,238.96. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of WKC. Innealta Capital LLC purchased a new position in World Kinect during the second quarter worth $65,000. Assetmark Inc. purchased a new position in World Kinect during the fourth quarter worth $96,000. PNC Financial Services Group Inc. purchased a new position in World Kinect during the fourth quarter worth $148,000. Point72 Asia Singapore Pte. Ltd. boosted its stake in World Kinect by 20.7% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after buying an additional 1,189 shares during the period. Finally, Privium Fund Management UK Ltd purchased a new position in World Kinect during the second quarter worth $208,000. 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.