Mackenzie Financial Corp Acquires New Holdings in World Kinect Co. (NYSE:WKC)

Mackenzie Financial Corp acquired a new stake in World Kinect Co. (NYSE:WKC) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 29,348 shares of the company’s stock, valued at approximately $669,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WKC. Allspring Global Investments Holdings LLC bought a new stake in shares of World Kinect during the 4th quarter worth about $32,000. Allworth Financial LP bought a new stake in shares of World Kinect during the 4th quarter worth about $35,000. SG Americas Securities LLC bought a new stake in shares of World Kinect during the 4th quarter worth about $142,000. EMC Capital Management bought a new stake in shares of World Kinect during the 4th quarter worth about $146,000. Finally, Investors Research Corp bought a new stake in shares of World Kinect during the 4th quarter worth about $151,000. 97.06% of the stock is currently owned by institutional investors.

Insider Transactions at World Kinect

In other news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction that occurred 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 transaction, the director now directly owns 75,375 shares of the company’s stock, valued at $1,836,888.75. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Bank of America boosted their price target on shares of World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a research report on Thursday, March 14th. JPMorgan Chase & Co. began coverage on shares of World Kinect in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 price objective on the stock. Finally, Raymond James lifted 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. One equities 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 currently has an average rating of “Hold” and a consensus target price of $26.75.

World Kinect Stock Performance

Shares of WKC opened at $24.68 on Friday. The firm’s 50 day moving average is $25.15 and its 200-day moving average is $22.83. The stock has a market capitalization of $1.48 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.24 and a beta of 1.26. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.11 and a quick ratio of 0.95. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.83.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.04. The company had revenue of $12 billion for 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 quarter in the previous year, the company posted $0.54 EPS. Equities research analysts anticipate that World Kinect Co. will post 2.25 EPS for the current fiscal year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Stockholders of record on Monday, March 25th were given a $0.17 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, March 22nd. World Kinect’s dividend payout ratio (DPR) is 80.95%.

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.