Stifel Nicolaus Cuts World Kinect (NYSE:WKC) Price Target to $30.00

World Kinect (NYSE:WKC) had its price target lowered by Stifel Nicolaus from $32.00 to $30.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a hold rating on the stock.

World Kinect Price Performance

World Kinect stock opened at $30.72 on Friday. The business has a 50-day simple moving average of $27.89 and a 200 day simple moving average of $28.49. World Kinect has a 52 week low of $21.38 and a 52 week high of $31.70. The stock has a market cap of $1.78 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 0.89 and a beta of 1.27. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. On average, research analysts forecast that World Kinect will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were given a $0.17 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This represents a $0.68 annualized dividend and a yield of 2.21%. World Kinect’s dividend payout ratio (DPR) is presently 64.15%.

Institutional Investors Weigh In On World Kinect

A number of large investors have recently added to or reduced their stakes in WKC. Pacer Advisors Inc. bought a new position in shares of World Kinect during the 3rd quarter valued at about $138,806,000. Hennessy Advisors Inc. purchased a new stake in World Kinect in the fourth quarter worth approximately $50,707,000. Invesco Ltd. grew its position in World Kinect by 30.6% during the fourth quarter. Invesco Ltd. now owns 3,067,946 shares of the company’s stock valued at $84,399,000 after acquiring an additional 719,631 shares during the last quarter. Millennium Management LLC raised its stake in shares of World Kinect by 639.9% during the fourth quarter. Millennium Management LLC now owns 508,959 shares of the company’s stock worth $14,001,000 after acquiring an additional 440,168 shares in the last quarter. Finally, EVR Research LP lifted its holdings in shares of World Kinect by 163.0% in the 4th quarter. EVR Research LP now owns 710,000 shares of the company’s stock worth $19,532,000 after acquiring an additional 440,000 shares during the last quarter. Hedge funds and other institutional investors 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.