World Kinect Co. (WKC) to Issue Quarterly Dividend of $0.17 on April 16th

World Kinect Co. (NYSE:WKCGet Free Report) declared a quarterly dividend on Thursday, March 7th, Zacks reports. Shareholders of record on Monday, March 25th will be given a dividend of 0.17 per share on Tuesday, April 16th. This represents a $0.68 annualized dividend and a yield of 2.67%. The ex-dividend date is Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14.

World Kinect has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect World Kinect to earn $2.59 per share next year, which means the company should continue to be able to cover its $0.56 annual dividend with an expected future payout ratio of 21.6%.

World Kinect Stock Down 0.2 %

WKC opened at $25.43 on Wednesday. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. World Kinect has a 1-year low of $17.69 and a 1-year high of $26.40. The company has a market capitalization of $1.52 billion, a PE ratio of 30.27, a PEG ratio of 2.27 and a beta of 1.25. The firm’s 50 day simple moving average is $23.53 and its two-hundred day simple moving average is $22.22.

World Kinect (NYSE:WKCGet Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.23 billion. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. During the same period in the prior year, the company posted $0.54 earnings per share. As a group, equities analysts forecast that World Kinect will post 2.24 EPS for the current year.

Insiders Place Their Bets

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction on Thursday, February 29th. The shares were 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 of the company’s stock, valued at approximately $1,836,888.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On World Kinect

Institutional investors have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its holdings in shares of World Kinect by 1,982.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,395 shares of the company’s stock worth $38,000 after acquiring an additional 1,328 shares during the last quarter. Quarry LP lifted its holdings in shares of World Kinect by 154.9% in the 1st quarter. Quarry LP now owns 1,550 shares of the company’s stock worth $40,000 after acquiring an additional 942 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of World Kinect by 382.1% in the 1st quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company’s stock worth $50,000 after acquiring an additional 1,555 shares during the last quarter. KBC Group NV bought a new stake in shares of World Kinect in the 4th quarter worth about $51,000. Finally, Captrust Financial Advisors lifted its holdings in shares of World Kinect by 18.3% in the 2nd quarter. Captrust Financial Advisors now owns 2,708 shares of the company’s stock worth $56,000 after acquiring an additional 419 shares during the last quarter. Institutional investors own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WKC shares. Bank of America increased 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. JPMorgan Chase & Co. began coverage on shares of World Kinect in a research note 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’s stock. According to MarketBeat, World Kinect currently has an average rating of “Hold” and an average price target of $26.25.

Check Out Our Latest Report on WKC

World Kinect Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for World Kinect (NYSE:WKC)

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