World Kinect (NYSE:WKC) Price Target Raised to $32.00

World Kinect (NYSE:WKC) had its price objective hoisted by JPMorgan Chase & Co. from $29.00 to $32.00 in a report issued on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

WKC has been the subject of several other reports. Bank of America boosted their price objective on World Kinect from $24.00 to $27.00 and gave the stock an underperform rating in a research note on Friday, September 13th. 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 note on Friday, July 26th. Finally, Morgan Stanley cut shares of World Kinect from an equal weight rating to an underweight rating and set a $28.00 target price on the stock. in a research note on Monday, September 16th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Hold and a consensus target price of $30.40.

World Kinect Price Performance

NYSE WKC opened at $31.40 on Thursday. The stock’s fifty day moving average price is $27.73 and its 200 day moving average price is $26.17. World Kinect has a 1 year low of $17.69 and a 1 year high of $31.70. 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 company has a market cap of $1.88 billion, a price-to-earnings ratio of 33.76, a PEG ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its quarterly 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 return on equity of 6.26% and a net margin of 0.29%. The company had revenue of $10.97 billion for the quarter, compared to analyst estimates of $11.98 billion. During the same period in the prior year, the business posted $0.48 earnings per share. World Kinect’s revenue for the quarter was down .1% on a year-over-year basis. As a group, equities research analysts forecast that World Kinect will post 2.15 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Investors of record on Monday, September 30th will be given a $0.17 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.68 annualized dividend and a yield of 2.17%. World Kinect’s dividend payout ratio (DPR) is 73.12%.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction dated 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 completion of 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 link. In other news, Director John L. Manley sold 16,000 shares of the company’s 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 transaction, 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 accessible through the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the company’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 transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On World Kinect

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank acquired a new position in World Kinect in the fourth quarter valued at $2,702,000. Charles Schwab Investment Management Inc. purchased a new stake in World Kinect in the fourth quarter valued at approximately $28,874,000. Dimensional Fund Advisors LP acquired a new position in World Kinect during the fourth quarter worth approximately $90,585,000. Norges Bank purchased a new position in World Kinect during the fourth quarter worth approximately $9,660,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in shares of World Kinect in the 4th quarter valued at $455,000. Institutional investors and hedge funds 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.