71,861 Shares in World Kinect Co. (NYSE:WKC) Acquired by Rafferty Asset Management LLC

Rafferty Asset Management LLC acquired a new position in World Kinect Co. (NYSE:WKCFree Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 71,861 shares of the company’s stock, valued at approximately $1,637,000. Rafferty Asset Management LLC owned about 0.12% of World Kinect at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in WKC. Headlands Technologies LLC purchased a new position in World Kinect during the fourth quarter valued at approximately $29,000. Allspring Global Investments Holdings LLC purchased a new position in World Kinect during the fourth quarter valued at approximately $32,000. Allworth Financial LP purchased a new position in World Kinect during the fourth quarter valued at approximately $35,000. Parkside Financial Bank & Trust purchased a new position in World Kinect during the fourth quarter valued at approximately $45,000. Finally, Assetmark Inc. bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $96,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

View Our Latest Analysis on World Kinect

Insiders Place Their Bets

In other World Kinect news, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction on Monday, May 6th. The shares were sold at an average price of $24.07, for a total transaction of $263,229.52. Following the completion of the transaction, the director now directly owns 41,545 shares of the company’s stock, valued at $999,988.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.90% of the stock is owned by insiders.

World Kinect Trading Up 0.2 %

Shares of WKC opened at $26.00 on Tuesday. The company’s fifty day moving average is $25.13 and its 200 day moving average is $23.90. World Kinect Co. has a fifty-two week low of $17.69 and a fifty-two week high of $26.83. The stock has a market capitalization of $1.56 billion, a PE ratio of 27.96, a P/E/G ratio of 0.88 and a beta of 1.30. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.97 and a current ratio of 1.14.

World Kinect (NYSE:WKCGet Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.49 by ($0.02). The business had revenue of $10.95 billion during the quarter, compared to the consensus estimate of $12.29 billion. World Kinect had a return on equity of 6.39% and a net margin of 0.12%. Sell-side analysts expect that World Kinect Co. will post 2.2 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 2.62%. The ex-dividend date of this dividend is Monday, June 17th. World Kinect’s payout ratio is 73.12%.

About World Kinect

(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.

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Institutional Ownership by Quarter for World Kinect (NYSE:WKC)

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