Nomura Holdings Inc. Buys Shares of 391,254 World Kinect Co. (NYSE:WKC)

Nomura Holdings Inc. bought a new stake in shares of World Kinect Co. (NYSE:WKCFree Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 391,254 shares of the company’s stock, valued at approximately $8,913,000. Nomura Holdings Inc. owned approximately 0.65% of World Kinect at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new stake in shares of World Kinect in the 4th quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new stake in shares of World Kinect in the 4th quarter worth $32,000. Allworth Financial LP bought a new stake in shares of World Kinect in the 4th quarter worth $35,000. Parkside Financial Bank & Trust bought a new stake in shares of World Kinect in the 4th quarter worth $45,000. Finally, Assetmark Inc. bought a new stake in shares of World Kinect in the 4th quarter worth $96,000. Institutional investors own 97.06% of the company’s stock.

Insider Activity at World Kinect

In related news, Director Ken Bakshi sold 10,936 shares of World Kinect stock in a transaction on Monday, May 6th. The stock was sold at an average price of $24.07, for a total transaction of $263,229.52. Following the completion of the sale, the director now owns 41,545 shares of the company’s stock, valued at $999,988.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 2.90% of the company’s stock.

Analysts Set New Price Targets

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

Get Our Latest Report on WKC

World Kinect Stock Performance

Shares of WKC stock opened at $26.00 on Tuesday. World Kinect Co. has a 1-year low of $17.69 and a 1-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 company has a market capitalization of $1.56 billion, a price-to-earnings ratio of 27.96, a P/E/G ratio of 0.88 and a beta of 1.30. The stock’s fifty day simple moving average is $25.13 and its 200-day simple moving average is $23.90.

World Kinect (NYSE:WKCGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $10.95 billion for the quarter, compared to analyst estimates of $12.29 billion. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. On average, sell-side analysts predict that World Kinect Co. will post 2.2 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

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

World Kinect Profile

(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.

See Also

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

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