JPMorgan Chase & Co. Increases World Kinect (NYSE:WKC) Price Target to $32.00

World Kinect (NYSE:WKC) had its price target increased by JPMorgan Chase & Co. from $29.00 to $32.00 in a report released on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other research analysts have also weighed in on the company. Morgan Stanley lowered World Kinect from an equal weight rating to an underweight rating and set a $28.00 price objective on the stock. in a report on Monday, September 16th. Bank of America upped their price target on shares of World Kinect from $24.00 to $27.00 and gave the stock an underperform rating in a research note on Friday, September 13th. Finally, Stifel Nicolaus reduced their price objective on shares of World Kinect from $35.00 to $33.00 and set a buy rating for the company in a research note on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, World Kinect has a consensus rating of Hold and a consensus target price of $30.40.

World Kinect Stock Up 1.8 %

WKC stock opened at $31.40 on Thursday. World Kinect has a one year low of $17.69 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.98 and a current ratio of 1.15. The company has a fifty day moving average of $27.73 and a 200-day moving average of $26.16. The stock has a market capitalization of $1.88 billion, a PE ratio of 33.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, July 25th. The company reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.08). The firm had revenue of $10.97 billion during the quarter, compared to analyst estimates of $11.98 billion. World Kinect had a net margin of 0.29% and a return on equity of 6.26%. World Kinect’s revenue for the quarter was down .1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. As a group, analysts expect that World Kinect will post 2.15 EPS for the current year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 16th. Stockholders of record on Monday, September 30th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date of this dividend is Monday, September 30th. World Kinect’s dividend payout ratio is currently 73.12%.

Insider Buying and Selling

In other news, CEO Michael J. Kasbar sold 58,948 shares of the stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $27.92, for a total value of $1,645,828.16. Following the sale, the chief executive officer now directly owns 1,019,063 shares in the company, valued at $28,452,238.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director John L. Manley sold 16,000 shares of World Kinect stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $28.28, for a total transaction of $452,480.00. Following the completion of the sale, the director now owns 49,614 shares in the company, valued at approximately $1,403,083.92. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Michael J. Kasbar sold 58,948 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $27.92, for a total transaction of $1,645,828.16. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $28,452,238.96. The disclosure for this sale can be found here. Insiders own 2.90% of the company’s stock.

Institutional Investors Weigh In On World Kinect

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in World Kinect during the second quarter worth approximately $65,000. Assetmark Inc. acquired a new stake in shares of World Kinect during the fourth quarter worth $96,000. PNC Financial Services Group Inc. purchased a new stake in shares of World Kinect in the fourth quarter valued at $148,000. Point72 Asia Singapore Pte. Ltd. increased its stake in World Kinect by 20.7% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after purchasing an additional 1,189 shares during the last quarter. Finally, Privium Fund Management UK Ltd purchased a new position in World Kinect during the second quarter worth about $208,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

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.