World Kinect Co. (NYSE:WKC) Director Ken Bakshi Sells 10,936 Shares of Stock

World Kinect Co. (NYSE:WKC) Director Ken Bakshi sold 10,936 shares of the stock in a transaction dated Monday, May 6th. The shares were 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 approximately $999,988.15. The transaction was disclosed in a document filed with the SEC, which is available through this link.

World Kinect Stock Performance

Shares of WKC stock opened at $24.60 on Thursday. The stock’s 50-day moving average is $25.03 and its two-hundred day moving average is $23.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.83. The firm has a market cap of $1.47 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.19 and a beta of 1.27.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, February 22nd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. During the same quarter in the previous year, the company posted $0.54 earnings per share. Analysts predict that World Kinect Co. will post 2.19 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were paid a dividend of $0.17 per share. The ex-dividend date was Friday, March 22nd. This represents a $0.68 dividend on an annualized basis and a yield of 2.76%. This is a boost from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio is currently 73.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. ProShare Advisors LLC boosted its stake in shares of World Kinect by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock worth $319,000 after buying an additional 829 shares during the period. Sei Investments Co. lifted its position in World Kinect by 25.6% during the 1st quarter. Sei Investments Co. now owns 23,468 shares of the company’s stock worth $621,000 after acquiring an additional 4,776 shares during the period. Empowered Funds LLC lifted its position in World Kinect by 8.7% during the 1st quarter. Empowered Funds LLC now owns 244,062 shares of the company’s stock worth $6,455,000 after acquiring an additional 19,449 shares during the period. Quantbot Technologies LP grew its stake in shares of World Kinect by 105.3% in the 1st quarter. Quantbot Technologies LP now owns 42,408 shares of the company’s stock valued at $1,122,000 after purchasing an additional 21,755 shares during the last quarter. Finally, LSV Asset Management raised its stake in shares of World Kinect by 2.0% during the first quarter. LSV Asset Management now owns 1,180,681 shares of the company’s stock worth $31,229,000 after purchasing an additional 22,869 shares during the last quarter. 97.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WKC has been the subject of a number of recent research reports. Raymond James lifted their price target on shares of World Kinect from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Bank of America lifted their price target on World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a report on Thursday, March 14th. Finally, JPMorgan Chase & Co. assumed coverage on World Kinect in a report on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, World Kinect presently has an average rating of “Hold” and an average price target of $26.75.

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.