Proficio Capital Partners LLC Makes New Investment in World Kinect Co. (NYSE:WKC)

Proficio Capital Partners LLC bought a new position in World Kinect Co. (NYSE:WKC) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 18,762 shares of the company’s stock, valued at approximately $516,000.

Several other large investors also recently added to or reduced their stakes in the business. Centricity Wealth Management LLC bought a new stake in World Kinect in the fourth quarter worth approximately $74,000. Hussman Strategic Advisors Inc. bought a new stake in World Kinect in the fourth quarter worth approximately $578,000. Rhumbline Advisers grew its position in World Kinect by 7.3% in the fourth quarter. Rhumbline Advisers now owns 208,980 shares of the company’s stock worth $5,749,000 after acquiring an additional 14,233 shares in the last quarter. Legato Capital Management LLC grew its position in World Kinect by 51.8% in the fourth quarter. Legato Capital Management LLC now owns 61,888 shares of the company’s stock worth $1,703,000 after acquiring an additional 21,111 shares in the last quarter. Finally, Savant Capital LLC grew its position in World Kinect by 16.5% in the fourth quarter. Savant Capital LLC now owns 7,573 shares of the company’s stock worth $208,000 after acquiring an additional 1,071 shares in the last quarter. 97.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a report on Friday, February 21st. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and an average target price of $29.80.

Insider Buying and Selling at World Kinect

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at $29,512,064.48. This represents a 2.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 2.90% of the company’s stock.

World Kinect Stock Performance

NYSE:WKC opened at $28.24 on Monday. World Kinect Co. has a 1 year low of $21.38 and a 1 year high of $31.71. The firm’s fifty day simple moving average is $28.27 and its 200 day simple moving average is $28.65. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The firm has a market capitalization of $1.60 billion, a PE ratio of 26.65, a PEG ratio of 0.89 and a beta of 1.16.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The business had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. On average, sell-side analysts anticipate that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 64.15%.

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.