Bank of America Increases World Kinect (NYSE:WKC) Price Target to $27.00

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

Separately, Stifel Nicolaus decreased their price objective on World Kinect from $35.00 to $33.00 and set a buy rating for the company in a report on Friday, July 26th. Two analysts have rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, World Kinect currently has an average rating of Hold and a consensus target price of $29.00.

World Kinect Stock Performance

Shares of World Kinect stock opened at $29.32 on Friday. World Kinect has a one year low of $17.69 and a one year high of $29.33. The company has a market capitalization of $1.76 billion, a PE ratio of 31.53, a P/E/G ratio of 1.08 and a beta of 1.24. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a 50-day simple moving average of $27.31 and a two-hundred day simple moving average of $26.00.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The firm had revenue of $10.97 billion for the quarter, compared to the consensus estimate of $11.98 billion. World Kinect had a return on equity of 6.26% and a net margin of 0.29%. The company’s revenue was down .1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.48 EPS. Research analysts expect that World Kinect will post 2.15 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 16th. Shareholders of record on Monday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.32%. The ex-dividend date is Monday, September 30th. World Kinect’s dividend payout ratio is presently 73.12%.

Insider Buying and Selling 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 in the company, valued at $1,403,083.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, Director John L. Manley sold 16,000 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was 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 in the company, valued at $1,403,083.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of World Kinect stock in a transaction dated 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 sale, the chief executive officer now directly owns 1,019,063 shares of the company’s stock, valued at approximately $28,452,238.96. The disclosure for this sale can be found here. 2.90% of the stock is currently owned by company insiders.

Institutional Trading of World Kinect

Several large investors have recently made changes to their positions in WKC. Russell Investments Group Ltd. acquired a new position in World Kinect during the fourth quarter valued at $1,634,000. Swiss National Bank acquired a new position in shares of World Kinect in the 4th quarter valued at about $2,702,000. Amalgamated Bank purchased a new stake in shares of World Kinect in the fourth quarter worth about $523,000. Charles Schwab Investment Management Inc. acquired a new stake in World Kinect during the fourth quarter worth about $28,874,000. Finally, BNP Paribas Financial Markets purchased a new position in World Kinect during the fourth quarter valued at approximately $4,139,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

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.