World Kinect (NYSE:WKC) Shares Gap Down to $24.69

World Kinect Co. (NYSE:WKC)’s share price gapped down before the market opened on Friday . The stock had previously closed at $24.69, but opened at $22.09. World Kinect shares last traded at $21.85, with a volume of 212,652 shares changing hands.

Wall Street Analyst Weigh In

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

World Kinect Stock Performance

The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 0.95. The stock has a market cap of $1.38 billion, a price-to-earnings ratio of 27.13, a PEG ratio of 2.22 and a beta of 1.26. The firm has a fifty day moving average of $25.15 and a 200 day moving average of $22.83.

World Kinect (NYSE:WKC) last issued its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. During the same period in the prior year, the business posted $0.54 earnings per share. As a group, sell-side analysts forecast that World Kinect Co. will post 2.26 EPS for the current year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were given a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 2.96%. This is a positive change from World Kinect’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 22nd. World Kinect’s dividend payout ratio is presently 80.95%.

Insider Buying and Selling

In related news, Director Paul H. Stebbins sold 20,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the transaction, the director now directly owns 75,375 shares in the company, valued at $1,836,888.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 2.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. acquired a new stake in shares of World Kinect in the third quarter valued at $157,793,000. Dimensional Fund Advisors LP acquired a new stake in World Kinect in the fourth quarter valued at $90,585,000. Brandes Investment Partners LP acquired a new stake in World Kinect in the fourth quarter valued at $57,423,000. Principal Financial Group Inc. purchased a new stake in shares of World Kinect in the 4th quarter valued at about $35,957,000. Finally, Charles Schwab Investment Management Inc. purchased a new stake in shares of World Kinect in the 4th quarter valued at about $28,874,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

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.