Centricity Wealth Management LLC Purchases New Shares in World Kinect Co. (NYSE:WKC)

Centricity Wealth Management LLC acquired a new position in World Kinect Co. (NYSE:WKC) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,700 shares of the company’s stock, valued at approximately $74,000.

A number of other large investors have also recently made changes to their positions in the business. Pacer Advisors Inc. bought a new position in shares of World Kinect during the 3rd quarter valued at approximately $138,806,000. Hennessy Advisors Inc. purchased a new position in World Kinect during the fourth quarter worth $50,707,000. Charles Schwab Investment Management Inc. increased its position in World Kinect by 0.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,371,030 shares of the company’s stock valued at $42,379,000 after acquiring an additional 4,201 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of World Kinect by 1.6% in the third quarter. Geode Capital Management LLC now owns 1,370,124 shares of the company’s stock valued at $42,358,000 after acquiring an additional 22,077 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of World Kinect by 4.4% in the 3rd quarter. Principal Financial Group Inc. now owns 1,341,484 shares of the company’s stock worth $41,465,000 after acquiring an additional 56,952 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Performance

Shares of World Kinect stock opened at $30.72 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The stock’s fifty day moving average is $27.89 and its two-hundred day moving average is $28.46. World Kinect Co. has a 52 week low of $21.38 and a 52 week high of $31.70. The company has a market capitalization of $1.78 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.27.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.05. The firm had revenue of $9.76 billion for the quarter, compared to analysts’ expectations of $10.57 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. As a group, analysts expect that World Kinect Co. will post 2.08 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. The ex-dividend date was Monday, December 23rd. World Kinect’s dividend payout ratio (DPR) is presently 30.22%.

Analyst Upgrades and Downgrades

Separately, Stifel Nicolaus cut their price target on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $29.80.

World Kinect Profile

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.