JPMorgan Chase & Co. Boosts World Kinect (NYSE:WKC) Price Target to $32.00

World Kinect (NYSE:WKC) had its target price lifted by JPMorgan Chase & Co. from $29.00 to $32.00 in a research note published on Thursday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other equities analysts have also issued research reports about the company. Stifel Nicolaus decreased their target price on World Kinect from $35.00 to $33.00 and set a buy rating on the stock in a research note on Friday, July 26th. Bank of America increased their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an underperform rating in a research report on Friday, September 13th. Finally, Morgan Stanley cut shares of World Kinect from an equal weight rating to an underweight rating and set a $28.00 price objective for the company. in a report on Monday, September 16th. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and two have given 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 $30.40.

World Kinect Trading Up 1.8 %

NYSE WKC opened at $31.40 on Thursday. World Kinect has a 12 month low of $17.69 and a 12 month high of $31.70. The stock has a market capitalization of $1.88 billion, a P/E ratio of 33.76, a PEG ratio of 1.08 and a beta of 1.24. The firm’s 50-day moving average is $27.73 and its two-hundred day moving average is $26.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.15 and a quick ratio of 0.98.

World Kinect (NYSE:WKC) last posted its earnings results 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). World Kinect had a net margin of 0.29% and a return on equity of 6.26%. The company had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. During the same quarter last year, the business posted $0.48 EPS. The firm’s revenue for the quarter was down .1% on a year-over-year basis. On average, sell-side analysts anticipate that World Kinect will post 2.15 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s dividend payout ratio is presently 73.12%.

Insider Activity at World Kinect

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP acquired a new stake in shares of World Kinect in the 4th quarter valued at about $90,585,000. Charles Schwab Investment Management Inc. acquired a new stake in shares of World Kinect in the fourth quarter valued at approximately $28,874,000. Wells Fargo & Company MN purchased a new position in shares of World Kinect during the fourth quarter worth approximately $12,179,000. Deprince Race & Zollo Inc. acquired a new position in shares of World Kinect in the 2nd quarter valued at $12,207,000. Finally, Norges Bank purchased a new stake in World Kinect in the 4th quarter valued at $9,660,000. 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.