NJ State Employees Deferred Compensation Plan Acquires Shares of 13,000 World Kinect Co. (NYSE:WKC)

NJ State Employees Deferred Compensation Plan bought a new stake in World Kinect Co. (NYSE:WKC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 13,000 shares of the company’s stock, valued at approximately $296,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. purchased a new position in World Kinect in the 3rd quarter valued at approximately $157,793,000. Exchange Traded Concepts LLC purchased a new position in World Kinect during the 4th quarter worth approximately $777,000. Nordea Investment Management AB purchased a new stake in World Kinect in the fourth quarter valued at approximately $3,843,000. North Star Investment Management Corp. purchased a new stake in World Kinect in the 4th quarter valued at $1,139,000. Finally, Legacy Wealth Asset Management LLC purchased a new position in shares of World Kinect during the fourth quarter worth about $208,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

Insiders Place Their Bets

In related news, Director Paul H. Stebbins sold 20,000 shares of the stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $24.37, for a total value of $487,400.00. Following the completion of the transaction, the director now owns 75,375 shares in the company, valued at approximately $1,836,888.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.60% of the stock is owned by insiders.

World Kinect Stock Down 6.8 %

WKC stock traded down $1.68 during midday trading on Friday, hitting $23.01. 918,849 shares of the company’s stock were exchanged, compared to its average volume of 545,123. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 27.13, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. The company has a current ratio of 1.11, a quick ratio of 0.95 and a debt-to-equity ratio of 0.42. The firm has a 50 day moving average price of $25.15 and a 200-day moving average price of $22.83. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.83.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.04. The firm had revenue of $12 billion for the quarter, compared to the consensus estimate of $12.23 billion. World Kinect had a net margin of 0.11% and a return on equity of 6.07%. During the same period in the prior year, the firm posted $0.54 EPS. On average, analysts anticipate that World Kinect Co. will post 2.26 EPS for the current year.

World Kinect Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Monday, March 25th were paid a dividend of $0.17 per share. This is a boost from World Kinect’s previous quarterly dividend of $0.14. The ex-dividend date of this dividend was Friday, March 22nd. This represents a $0.68 annualized dividend and a yield of 2.96%. World Kinect’s dividend payout ratio (DPR) is presently 80.95%.

Analyst Upgrades and Downgrades

WKC has been the topic of a number of recent analyst reports. Bank of America boosted their price target on shares of World Kinect from $23.00 to $26.00 and gave the stock an “underperform” rating in a research note on Thursday, March 14th. JPMorgan Chase & Co. started coverage on World Kinect in a report on Wednesday, February 21st. They set a “neutral” rating and a $25.00 price objective on the stock. Finally, Raymond James raised their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the company 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.