Eukles Asset Management Invests $152,000 in World Kinect Co. (NYSE:WKC)

Eukles Asset Management bought a new position in World Kinect Co. (NYSE:WKC) during the fourth quarter, HoldingsChannel reports. The firm bought 6,657 shares of the company’s stock, valued at approximately $152,000.

Several other hedge funds have also bought and sold shares of the business. Allspring Global Investments Holdings LLC bought a new stake in shares of World Kinect in the 4th quarter worth $32,000. Allworth Financial LP purchased a new stake in shares of World Kinect during the 4th quarter worth approximately $35,000. Rockefeller Capital Management L.P. raised its holdings in shares of World Kinect by 1,982.1% in the 4th quarter. Rockefeller Capital Management L.P. now owns 1,395 shares of the company’s stock worth $38,000 after purchasing an additional 1,328 shares during the period. Quarry LP raised its holdings in shares of World Kinect by 154.9% in the 1st quarter. Quarry LP now owns 1,550 shares of the company’s stock worth $40,000 after purchasing an additional 942 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in World Kinect by 382.1% in the first quarter. Tower Research Capital LLC TRC now owns 1,962 shares of the company’s stock valued at $50,000 after purchasing an additional 1,555 shares during the last quarter. 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 World Kinect stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $24.37, for a total value of $487,400.00. Following the transaction, the director now directly owns 75,375 shares of the company’s stock, valued at $1,836,888.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. initiated coverage on World Kinect in a research note on Wednesday, February 21st. They issued a “neutral” rating and a $25.00 target price on the stock. Raymond James upped their price objective on shares of World Kinect from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, Bank of America lifted their target price 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. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $26.75.

World Kinect Price Performance

Shares of WKC stock traded up $0.27 on Friday, reaching $24.51. The company’s stock had a trading volume of 133,876 shares, compared to its average volume of 547,087. World Kinect Co. has a 12-month low of $17.69 and a 12-month high of $26.83. The company has a quick ratio of 0.95, a current ratio of 1.11 and a debt-to-equity ratio of 0.42. The company has a market capitalization of $1.47 billion, a P/E ratio of 28.86, a PEG ratio of 2.17 and a beta of 1.26. The stock’s 50 day simple moving average is $25.04 and its 200-day simple moving average is $22.72.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, February 22nd. The company reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.04. World Kinect had a return on equity of 6.07% and a net margin of 0.11%. The firm had revenue of $12 billion during the quarter, compared to analysts’ expectations of $12.23 billion. During the same period in the prior year, the business earned $0.54 EPS. As a group, equities analysts predict that World Kinect Co. will post 2.25 earnings per share for the current fiscal year.

World Kinect Increases Dividend

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

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.