World Kinect (NYSE:WKC) Reaches New 1-Year High at $28.77

World Kinect Co. (NYSE:WKC) shares hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $28.77 and last traded at $28.76, with a volume of 16148 shares traded. The stock had previously closed at $28.37.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut their target price on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research note on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $28.00.

World Kinect Price Performance

The stock has a 50-day moving average of $26.44 and a two-hundred day moving average of $25.52. The firm has a market cap of $1.72 billion, a price-to-earnings ratio of 30.51, a price-to-earnings-growth ratio of 1.05 and a beta of 1.24. 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 announced its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The business’s quarterly revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.48 earnings per share. On average, analysts anticipate that World Kinect Co. will post 2.16 EPS for the current year.

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Monday, June 17th were issued a $0.17 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.37%. World Kinect’s payout ratio is currently 73.12%.

Insider Activity

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

Institutional Trading of World Kinect

A number of institutional investors have recently bought and sold shares of WKC. Headlands Technologies LLC bought a new stake in shares of World Kinect in the 4th quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC acquired a new stake in World Kinect in the fourth quarter valued at approximately $32,000. Innealta Capital LLC bought a new position in shares of World Kinect during the 2nd quarter valued at $65,000. Assetmark Inc. bought a new stake in World Kinect in the fourth quarter worth $96,000. Finally, PNC Financial Services Group Inc. acquired a new position in World Kinect during the fourth quarter worth $148,000. 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.