Proficio Capital Partners LLC Takes $516,000 Position in World Kinect Co. (NYSE:WKC)

Proficio Capital Partners LLC purchased a new stake in shares of World Kinect Co. (NYSE:WKC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 18,762 shares of the company’s stock, valued at approximately $516,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. HHM Wealth Advisors LLC acquired a new position in shares of World Kinect in the fourth quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in World Kinect during the third quarter valued at approximately $31,000. Quarry LP raised its stake in World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after buying an additional 1,044 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of World Kinect during the fourth quarter valued at approximately $74,000. Finally, KBC Group NV grew its holdings in shares of World Kinect by 60.2% during the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock valued at $99,000 after purchasing an additional 1,351 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus lowered their target price on 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 assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $29.80.

World Kinect Stock Performance

Shares of WKC stock opened at $27.98 on Monday. World Kinect Co. has a 12-month low of $21.38 and a 12-month high of $31.71. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 26.40, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The business has a 50 day simple moving average of $28.43 and a 200 day simple moving average of $28.63. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

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

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 16th. Investors of record on Monday, March 31st will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend is Monday, March 31st. World Kinect’s dividend payout ratio (DPR) is 64.15%.

Insider Buying and Selling

In other World Kinect news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 in the company, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 2.90% of the company’s stock.

World Kinect 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.