World Kinect (NYSE:WKC) Reaches New 52-Week High at $29.75

Shares of World Kinect Co. (NYSE:WKC) reached 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 traded. The stock had previously closed at $29.32.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Bank of America boosted their target price on shares of World Kinect from $24.00 to $27.00 and gave the company an “underperform” rating in a research report on Friday. Morgan Stanley lowered shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price on the stock. in a research report on Monday. Finally, Stifel Nicolaus dropped their price target on shares of World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, World Kinect presently has an average rating of “Hold” and an average target price of $29.00.

World Kinect Trading Up 2.5 %

The firm’s fifty day simple moving average is $27.31 and its 200 day simple moving average is $26.00. The stock has a market capitalization of $1.80 billion, a P/E ratio of 31.53, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.48 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 firm had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that World Kinect Co. will post 2.15 EPS for the current fiscal year.

World Kinect Dividend Announcement

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

Insider Activity

In other news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now directly owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Michael J. Kasbar sold 58,948 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $28,452,238.96. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now directly 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 Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Trexquant Investment LP bought a new stake in World Kinect during the fourth quarter valued at $1,262,000. GSA Capital Partners LLP acquired a new stake in World Kinect during the fourth quarter worth approximately $2,822,000. Swiss National Bank bought a new stake in World Kinect in the fourth quarter worth approximately $2,702,000. Dynamic Technology Lab Private Ltd bought a new stake in World Kinect in the fourth quarter worth approximately $455,000. Finally, Wells Fargo & Company MN acquired a new position in World Kinect in the fourth quarter valued at approximately $12,179,000. 97.06% of the stock is owned by institutional investors and hedge funds.

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.