Ken Bakshi Sells 10,936 Shares of World Kinect Co. (NYSE:WKC) Stock

World Kinect Co. (NYSE:WKC) Director Ken Bakshi sold 10,936 shares of the company’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 completion of the sale, the director now owns 41,545 shares in the company, valued at approximately $999,988.15. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

World Kinect Stock Up 0.4 %

Shares of WKC stock traded up $0.10 during trading hours on Wednesday, hitting $24.60. 294,234 shares of the company’s stock traded hands, compared to its average volume of 549,590. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.83. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 26.45, a PEG ratio of 2.19 and a beta of 1.27. The stock’s fifty day simple moving average is $25.03 and its two-hundred day simple moving average is $22.99. 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 (NYSE:WKC) last announced its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. During the same period in the previous year, the business earned $0.54 EPS. On average, analysts expect that World Kinect Co. will post 2.19 EPS for the current year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 2.76%. The ex-dividend date was Friday, March 22nd. This is an increase from World Kinect’s previous quarterly dividend of $0.14. World Kinect’s dividend payout ratio is 73.12%.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in WKC. Vanguard Group Inc. purchased a new stake in shares of World Kinect during the 3rd quarter valued at about $157,793,000. Dimensional Fund Advisors LP bought a new position in shares of World Kinect during the fourth quarter valued at approximately $90,585,000. Brandes Investment Partners LP bought a new position in shares of World Kinect during the fourth quarter valued at approximately $57,423,000. Principal Financial Group Inc. acquired a new stake in World Kinect in the fourth quarter valued at approximately $35,957,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in World Kinect in the fourth quarter valued at approximately $28,874,000. Institutional investors own 97.06% of the company’s stock.

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.