Parkside Financial Bank & Trust Takes $45,000 Position in World Kinect Co. (NYSE:WKC)

Parkside Financial Bank & Trust acquired a new stake in shares of World Kinect Co. (NYSE:WKC) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,977 shares of the company’s stock, valued at approximately $45,000.

A number of other hedge funds also recently made changes to their positions in WKC. Allspring Global Investments Holdings LLC bought a new stake in shares of World Kinect in the fourth quarter worth $32,000. Allworth Financial LP bought a new stake in shares of World Kinect in the fourth quarter worth $35,000. SG Americas Securities LLC bought a new stake in shares of World Kinect in the fourth quarter worth $142,000. EMC Capital Management bought a new stake in shares of World Kinect in the fourth quarter worth $146,000. Finally, Investors Research Corp bought a new stake in shares of World Kinect in the fourth quarter worth $151,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other World Kinect news, Director Paul H. Stebbins sold 20,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the sale, the director now directly owns 75,375 shares of the company’s stock, valued at approximately $1,836,888.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is owned by corporate insiders.

World Kinect Stock Performance

Shares of WKC opened at $23.01 on Friday. The company has a market cap of $1.38 billion, a price-to-earnings ratio of 24.74, a price-to-earnings-growth ratio of 2.20 and a beta of 1.26. The firm has a fifty day moving average of $25.13 and a 200-day moving average of $22.84. World Kinect Co. has a 1 year low of $17.69 and a 1 year high of $26.83. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.95 and a current ratio of 1.11.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $12 billion during the quarter, compared to analyst estimates of $12.23 billion. World Kinect had a net margin of 0.12% and a return on equity of 6.39%. During the same quarter in the prior year, the firm posted $0.54 EPS. As a group, equities analysts anticipate that World Kinect Co. will post 2.25 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 2.96%. This is an increase from World Kinect’s previous quarterly dividend of $0.14. The ex-dividend date was Friday, March 22nd. World Kinect’s dividend payout ratio is presently 73.12%.

Wall Street Analysts Forecast Growth

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

World Kinect Company 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.