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

World Kinect Co. (NYSE:WKC) Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the sale, the director now directly owns 41,545 shares in the company, valued at $999,988.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

World Kinect Price Performance

Shares of WKC traded up $0.10 during mid-day trading on Wednesday, hitting $24.60. 294,234 shares of the company traded hands, compared to its average volume of 549,590. World Kinect Co. has a one year low of $17.69 and a one year high of $26.83. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The business has a 50-day moving average of $25.03 and a 200 day moving average of $22.99. The stock has a market capitalization 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 announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.04. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $12 billion for the quarter, compared to analyst estimates of $12.23 billion. During the same period in the prior year, the business posted $0.54 earnings per share. As a group, equities analysts expect that World Kinect Co. will post 2.19 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were issued a $0.17 dividend. The ex-dividend date was Friday, March 22nd. This is a positive change from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 2.76%. World Kinect’s dividend payout ratio (DPR) is 73.12%.

Institutional Investors Weigh In On World Kinect

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on WKC shares. Raymond James upped their price objective 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 upped their price objective on shares of World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, March 14th. Finally, JPMorgan Chase & Co. started coverage on shares of World Kinect in a research note on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price objective on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, World Kinect has a consensus rating of “Hold” and an average target price of $26.75.

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.