World Kinect (NYSE:WKC) Given New $33.00 Price Target at Stifel Nicolaus

World Kinect (NYSE:WKC) had its price objective decreased by Stifel Nicolaus from $35.00 to $33.00 in a research report report published on Friday, Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Separately, Raymond James raised their target price on World Kinect from $30.00 to $32.00 and gave the stock an outperform rating in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of Hold and an average target price of $28.00.

World Kinect Stock Performance

Shares of World Kinect stock opened at $26.85 on Friday. The stock has a market cap of $1.61 billion, a PE ratio of 28.87, a price-to-earnings-growth ratio of 0.89 and a beta of 1.24. The business has a fifty day simple moving average of $25.83 and a 200-day simple moving average of $24.86. The company has a quick ratio of 0.97, a current ratio of 1.14 and a debt-to-equity ratio of 0.41. World Kinect has a 12 month low of $17.69 and a 12 month high of $27.25.

World Kinect (NYSE:WKC) last issued its earnings results on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.08). The business had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a return on equity of 6.32% and a net margin of 0.29%. The business’s quarterly revenue was down .1% on a year-over-year basis. During the same period last year, the business earned $0.48 EPS. On average, sell-side analysts anticipate that World Kinect will post 2.19 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Monday, June 17th were paid a dividend of $0.17 per share. The ex-dividend date was Monday, June 17th. This represents a $0.68 annualized dividend and a yield of 2.53%. World Kinect’s dividend payout ratio is 73.12%.

Insider Activity at World Kinect

In related news, Director Ken Bakshi sold 10,936 shares of the business’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 transaction, 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. Corporate insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On World Kinect

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its holdings in World Kinect by 1.3% during the second quarter. Louisiana State Employees Retirement System now owns 30,200 shares of the company’s stock valued at $779,000 after purchasing an additional 400 shares in the last quarter. Texas Permanent School Fund Corp boosted its holdings in World Kinect by 1.3% during the first quarter. Texas Permanent School Fund Corp now owns 52,688 shares of the company’s stock valued at $1,394,000 after purchasing an additional 682 shares in the last quarter. ProShare Advisors LLC boosted its holdings in World Kinect by 7.4% during the first quarter. ProShare Advisors LLC now owns 12,062 shares of the company’s stock valued at $319,000 after purchasing an additional 829 shares in the last quarter. Headlands Technologies LLC acquired a new stake in World Kinect during the fourth quarter valued at approximately $29,000. Finally, Allspring Global Investments Holdings LLC acquired a new stake in World Kinect during the fourth quarter valued at approximately $32,000. 97.06% of the stock is owned by institutional investors and hedge funds.

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.