Moran Wealth Management LLC Acquires Shares of 83,412 World Kinect Co. (NYSE:WKC)

Moran Wealth Management LLC bought a new position in shares of World Kinect Co. (NYSE:WKC) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 83,412 shares of the company’s stock, valued at approximately $2,295,000.

Several other large investors have also made changes to their positions in WKC. HHM Wealth Advisors LLC bought a new stake in World Kinect during the 4th quarter worth about $25,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of World Kinect during the 3rd quarter worth approximately $31,000. Quarry LP raised its stake in shares of World Kinect by 3,600.0% during the third quarter. Quarry LP now owns 1,073 shares of the company’s stock worth $33,000 after buying an additional 1,044 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of World Kinect during the fourth quarter worth approximately $74,000. Finally, KBC Group NV boosted its stake in World Kinect by 60.2% in the fourth quarter. KBC Group NV now owns 3,597 shares of the company’s stock valued at $99,000 after acquiring an additional 1,351 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Analyst Ratings Changes

Separately, Stifel Nicolaus dropped their target price on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research report on Friday, February 21st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $29.80.

Insiders Place Their Bets

In other news, CEO Michael J. Kasbar sold 21,507 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $28.96, for a total value of $622,842.72. Following the completion of the transaction, the chief executive officer now owns 1,019,063 shares in the company, valued at $29,512,064.48. This represents a 2.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.90% of the company’s stock.

World Kinect Stock Performance

Shares of WKC stock opened at $27.97 on Wednesday. The stock has a 50-day moving average of $28.30 and a 200-day moving average of $28.65. World Kinect Co. has a one year low of $21.38 and a one year high of $31.71. The stock has a market cap of $1.59 billion, a PE ratio of 26.39, a price-to-earnings-growth ratio of 0.89 and a beta of 1.16. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, February 20th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.05. World Kinect had a net margin of 0.16% and a return on equity of 6.43%. The company had revenue of $9.76 billion for the quarter, compared to analyst estimates of $10.57 billion. As a group, sell-side analysts expect that World Kinect Co. will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 23rd were paid a $0.17 dividend. The ex-dividend date was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. World Kinect’s payout ratio is 64.15%.

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.