Moran Wealth Management LLC Purchases Shares of 83,412 World Kinect Co. (NYSE:WKC)

Moran Wealth Management LLC purchased a new position in World Kinect Co. (NYSE:WKC) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 83,412 shares of the company’s stock, valued at approximately $2,295,000. Moran Wealth Management LLC owned about 0.14% of World Kinect at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in WKC. Amundi grew its position in World Kinect by 1,254.3% during the fourth quarter. Amundi now owns 164,928 shares of the company’s stock worth $4,536,000 after buying an additional 152,750 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in shares of World Kinect in the 4th quarter worth approximately $516,000. QRG Capital Management Inc. increased its position in shares of World Kinect by 3.7% during the fourth quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock valued at $400,000 after purchasing an additional 517 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $74,000. Finally, Hussman Strategic Advisors Inc. acquired a new position in shares of World Kinect in the fourth quarter valued at $578,000. Institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other news, CEO Michael J. Kasbar sold 21,507 shares of World Kinect stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at approximately $29,512,064.48. The trade was a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

Separately, Stifel Nicolaus lowered their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday, February 21st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $29.80.

World Kinect Trading Down 0.7 %

WKC stock opened at $27.97 on Wednesday. World Kinect Co. has a 1-year low of $21.38 and a 1-year high of $31.71. The company has a current ratio of 1.16, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39. The business’s 50 day moving average is $28.30 and its 200-day moving average is $28.65. The firm has a market cap of $1.59 billion, a P/E ratio of 26.39, a P/E/G ratio of 0.89 and a beta of 1.16.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. Equities analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.43%. The ex-dividend date of this dividend was Monday, December 23rd. World Kinect’s dividend payout ratio is currently 64.15%.

World Kinect 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.