SG Americas Securities LLC Buys Shares of 6,219 World Kinect Co. (NYSE:WKC)

SG Americas Securities LLC bought a new stake in World Kinect Co. (NYSE:WKC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 6,219 shares of the company’s stock, valued at approximately $142,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nordea Investment Management AB purchased a new position in World Kinect in the fourth quarter valued at about $3,843,000. CX Institutional acquired a new stake in World Kinect in the fourth quarter worth about $3,594,000. Vanguard Group Inc. acquired a new stake in World Kinect in the third quarter worth about $157,793,000. Exchange Traded Concepts LLC acquired a new stake in World Kinect in the fourth quarter worth about $777,000. Finally, North Star Investment Management Corp. acquired a new stake in World Kinect in the fourth quarter worth about $1,139,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Trading Down 1.6 %

World Kinect stock opened at $24.55 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. World Kinect Co. has a 52 week low of $17.69 and a 52 week high of $26.83. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 29.23, a price-to-earnings-growth ratio of 2.25 and a beta of 1.26. The stock has a 50-day moving average price of $24.99 and a 200 day moving average price of $22.68.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, February 22nd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $12 billion during the quarter, compared to the consensus estimate of $12.23 billion. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. During the same quarter in the previous year, the company posted $0.54 earnings per share. Sell-side analysts anticipate that World Kinect Co. will post 2.25 EPS for the current year.

World Kinect Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Investors of record on Monday, March 25th were given a dividend of $0.17 per share. This is a boost from World Kinect’s previous quarterly dividend of $0.14. This represents a $0.68 annualized dividend and a yield of 2.77%. The ex-dividend date was Friday, March 22nd. World Kinect’s dividend payout ratio (DPR) is currently 80.95%.

Insider Activity at World Kinect

In related news, Director Paul H. Stebbins sold 20,000 shares of World Kinect stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total transaction of $487,400.00. Following the completion of the transaction, the director now directly owns 75,375 shares in the company, valued at $1,836,888.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 2.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

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

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.