Nordea Investment Management AB increased its holdings in World Kinect Co. (NYSE:WKC – Free Report) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 138,386 shares of the company’s stock after buying an additional 2,012 shares during the quarter. Nordea Investment Management AB’s holdings in World Kinect were worth $3,779,000 at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of the business. Bank of Montreal Can increased its stake in shares of World Kinect by 6.7% in the second quarter. Bank of Montreal Can now owns 527,404 shares of the company’s stock worth $13,697,000 after acquiring an additional 33,332 shares during the period. Geode Capital Management LLC boosted its holdings in World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after purchasing an additional 22,077 shares during the last quarter. Algert Global LLC grew its position in World Kinect by 88.0% during the 3rd quarter. Algert Global LLC now owns 138,560 shares of the company’s stock worth $4,283,000 after purchasing an additional 64,867 shares during the period. Quantbot Technologies LP raised its stake in shares of World Kinect by 244.6% during the 3rd quarter. Quantbot Technologies LP now owns 86,746 shares of the company’s stock valued at $2,681,000 after buying an additional 61,572 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock valued at $41,465,000 after buying an additional 56,952 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.
World Kinect Stock Down 1.8 %
Shares of WKC opened at $27.00 on Friday. 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 cap of $1.57 billion, a P/E ratio of 12.00, a PEG ratio of 1.10 and a beta of 1.28. The stock’s 50 day moving average is $27.96 and its two-hundred day moving average is $28.06. World Kinect Co. has a 12 month low of $21.21 and a 12 month high of $31.70.
World Kinect Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Monday, December 23rd will be given a dividend of $0.17 per share. The ex-dividend date is Monday, December 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.52%. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.
Analysts Set New Price Targets
Several research firms recently commented on WKC. Bank of America raised their target price on World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Stifel Nicolaus cut shares of World Kinect from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $33.00 to $32.00 in a research note on Friday, October 25th. Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Two 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. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.20.
Read Our Latest Stock Report on World Kinect
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.
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