World Kinect (NYSE:WKC) PT Raised to $27.00 at Bank of America

World Kinect (NYSE:WKC) had its price target lifted by Bank of America from $24.00 to $27.00 in a research note published on Friday morning, Benzinga reports. Bank of America currently has an underperform rating on the stock.

Separately, Stifel Nicolaus lowered their target price on World Kinect from $35.00 to $33.00 and set a buy rating on the stock in a research report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $28.20.

World Kinect Stock Up 3.7 %

World Kinect stock opened at $29.00 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.15 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.71 billion, a PE ratio of 31.18, a PEG ratio of 1.08 and a beta of 1.24. The firm’s fifty day moving average is $27.23 and its 200 day moving average is $25.95. World Kinect has a 12-month low of $17.69 and a 12-month high of $29.16.

World Kinect (NYSE:WKC) last issued its earnings results 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 during the quarter, compared to analyst estimates of $11.98 billion. During the same quarter in the prior year, the business earned $0.48 earnings per share. The business’s quarterly revenue was down .1% on a year-over-year basis. As a group, sell-side analysts predict that World Kinect will post 2.15 EPS for the current fiscal year.

World Kinect Dividend Announcement

The business also recently declared 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. The ex-dividend date is Monday, September 30th. This represents a $0.68 dividend on an annualized basis and a yield of 2.34%. World Kinect’s dividend payout ratio (DPR) is currently 73.12%.

Insider Transactions at World Kinect

In related news, Director John L. Manley sold 16,000 shares of World Kinect 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 transaction, the director now owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other World Kinect news, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the transaction, the chief executive officer now owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director John L. Manley sold 16,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $28.28, for a total value of $452,480.00. Following the completion of the transaction, the director now directly owns 49,614 shares of the company’s stock, valued at $1,403,083.92. The disclosure for this sale can be found here. Company insiders own 2.90% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of WKC. Vanguard Group Inc. boosted its holdings in shares of World Kinect by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 7,056,230 shares of the company’s stock worth $186,637,000 after buying an additional 146,899 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in World Kinect by 3.5% in the second quarter. Dimensional Fund Advisors LP now owns 4,126,784 shares of the company’s stock valued at $106,471,000 after acquiring an additional 140,314 shares during the last quarter. Brandes Investment Partners LP grew its position in shares of World Kinect by 10.6% during the 2nd quarter. Brandes Investment Partners LP now owns 2,972,932 shares of the company’s stock valued at $76,714,000 after acquiring an additional 284,560 shares during the period. Principal Financial Group Inc. increased its stake in shares of World Kinect by 3.4% during the 1st quarter. Principal Financial Group Inc. now owns 1,631,393 shares of the company’s stock worth $43,150,000 after purchasing an additional 52,930 shares during the last quarter. Finally, Boston Partners raised its holdings in shares of World Kinect by 12.4% in the 1st quarter. Boston Partners now owns 1,358,173 shares of the company’s stock worth $35,263,000 after purchasing an additional 149,433 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

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.