Empowered Funds LLC Boosts Stock Holdings in World Kinect Co. (NYSE:WKC)

Empowered Funds LLC lifted its holdings in World Kinect Co. (NYSE:WKC) by 8.7% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 244,062 shares of the company’s stock after purchasing an additional 19,449 shares during the period. Empowered Funds LLC owned about 0.41% of World Kinect worth $6,455,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WKC. Headlands Technologies LLC purchased a new stake in World Kinect during the fourth quarter worth $29,000. Allspring Global Investments Holdings LLC bought a new position in shares of World Kinect in the 4th quarter worth $32,000. Allworth Financial LP bought a new position in shares of World Kinect in the 4th quarter worth $35,000. Parkside Financial Bank & Trust purchased a new stake in shares of World Kinect during the 4th quarter worth $45,000. Finally, Assetmark Inc. bought a new stake in World Kinect during the fourth quarter valued at about $96,000. 97.06% of the stock is currently owned by institutional investors.

Insider Activity at World Kinect

In other World Kinect news, Director Ken Bakshi sold 10,936 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.07, for a total transaction of $263,229.52. Following the transaction, the director now owns 41,545 shares in the company, valued at approximately $999,988.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, Raymond James boosted their target price 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, World Kinect presently has a consensus rating of “Hold” and an average price target of $26.75.

World Kinect Stock Performance

Shares of WKC opened at $25.97 on Friday. World Kinect Co. has a 12 month low of $17.69 and a 12 month high of $26.83. The stock has a fifty day moving average price of $25.47 and a 200-day moving average price of $24.56. The company has a current ratio of 1.14, a quick ratio of 0.97 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1.56 billion, a PE ratio of 27.93, a P/E/G ratio of 0.84 and a beta of 1.24.

World Kinect (NYSE:WKC) last announced its earnings results on Thursday, April 25th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). World Kinect had a net margin of 0.12% and a return on equity of 6.39%. The business had revenue of $10.95 billion for the quarter, compared to analyst estimates of $12.29 billion. Equities research analysts predict that World Kinect Co. will post 2.3 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 16th. Investors of record on Monday, June 17th will be given a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Monday, June 17th. World Kinect’s payout ratio is currently 73.12%.

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.