World Kinect (NYSE:WKC) Reaches New 12-Month High at $28.50

World Kinect Co. (NYSE:WKC)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $28.50 and last traded at $28.39, with a volume of 3389 shares changing hands. The stock had previously closed at $28.25.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Raymond James boosted their price objective on World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Stifel Nicolaus reduced their price objective on World Kinect from $35.00 to $33.00 and set a “buy” rating for the company in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, World Kinect currently has a consensus rating of “Hold” and an average target price of $28.00.

World Kinect Stock Up 0.8 %

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 50 day simple moving average of $25.96 and a 200-day simple moving average of $24.94. The stock has a market capitalization of $1.68 billion, a price-to-earnings ratio of 30.38, a price-to-earnings-growth ratio of 1.06 and a beta of 1.24.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, July 25th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The business had revenue of $10.97 billion during the quarter, compared to the consensus estimate of $11.98 billion. During the same period in the prior year, the firm earned $0.48 earnings per share. The business’s quarterly revenue was down .1% compared to the same quarter last year. On average, sell-side analysts forecast that World Kinect Co. will post 2.16 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th were given a $0.17 dividend. The ex-dividend date was Monday, June 17th. This represents a $0.68 dividend on an annualized basis and a yield of 2.39%. World Kinect’s payout ratio is 73.12%.

Insider Transactions at World Kinect

In related news, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.07, for a total value of $263,229.52. Following the completion of the sale, the director now directly owns 41,545 shares in the company, valued at $999,988.15. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.90% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Vanguard Group Inc. acquired a new position in World Kinect in the third quarter valued at about $157,793,000. SG Americas Securities LLC acquired a new stake in World Kinect during the 4th quarter worth approximately $142,000. Raymond James & Associates bought a new position in World Kinect in the fourth quarter valued at approximately $1,881,000. State of Alaska Department of Revenue acquired a new position in shares of World Kinect in the fourth quarter valued at approximately $843,000. Finally, Pinnacle Associates Ltd. bought a new stake in shares of World Kinect during the fourth quarter worth $1,123,000. Institutional investors and hedge funds 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.