World Kinect (NYSE:WKC) Reaches New 1-Year High at $29.75

World Kinect Co. (NYSE:WKC) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $29.75 and last traded at $29.71, with a volume of 55121 shares trading hands. The stock had previously closed at $29.32.

Wall Street Analysts Forecast Growth

A number of 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 note on Friday, September 13th. Stifel Nicolaus lowered 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. Finally, Morgan Stanley lowered 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. Two analysts have rated the stock with a sell rating, one has issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, World Kinect currently has a consensus rating of “Hold” and a consensus target price of $29.00.

World Kinect Price Performance

The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98. The firm has a fifty day moving average of $27.52 and a two-hundred day moving average of $26.06. The stock has a market capitalization of $1.81 billion, a P/E ratio of 32.51, a P/E/G ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last released its quarterly earnings data on Thursday, July 25th. The company reported $0.48 earnings per share 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 the consensus estimate of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business’s revenue was down .1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.48 earnings per share. On average, analysts predict that World Kinect Co. will post 2.15 EPS for the current year.

World Kinect Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be issued a $0.17 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.25%. World Kinect’s dividend payout ratio is presently 73.12%.

Insiders Place Their Bets

In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated 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 directly owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael J. Kasbar sold 58,948 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the sale, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John L. Manley sold 16,000 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total value of $452,480.00. Following the sale, the director now owns 49,614 shares in the company, valued at approximately $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 Investors Weigh In On World Kinect

A number of large investors have recently modified their holdings of WKC. Innealta Capital LLC purchased a new stake in shares of World Kinect during the second quarter worth about $65,000. Assetmark Inc. acquired a new position in World Kinect in the 4th quarter worth approximately $96,000. PNC Financial Services Group Inc. acquired a new position in World Kinect in the 4th quarter worth approximately $148,000. Point72 Asia Singapore Pte. Ltd. increased its holdings in World Kinect by 20.7% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock worth $179,000 after buying an additional 1,189 shares during the period. Finally, Privium Fund Management UK Ltd acquired a new position in World Kinect in the 2nd quarter worth approximately $208,000. 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.