Nordea Investment Management AB Purchases 2,012 Shares of World Kinect Co. (NYSE:WKC)

Nordea Investment Management AB lifted its holdings in World Kinect Co. (NYSE:WKC) by 1.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 138,386 shares of the company’s stock after purchasing an additional 2,012 shares during the period. Nordea Investment Management AB owned about 0.24% of World Kinect worth $3,779,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in World Kinect in the 3rd quarter worth approximately $31,000. Quarry LP boosted its position in shares of World Kinect by 3,600.0% in the third quarter. Quarry LP now owns 1,073 shares of the company’s stock worth $33,000 after purchasing an additional 1,044 shares during the period. Hara Capital LLC purchased a new stake in shares of World Kinect in the third quarter worth $76,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of World Kinect by 20.7% during the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,927 shares of the company’s stock valued at $179,000 after purchasing an additional 1,189 shares during the period. Finally, EP Wealth Advisors LLC purchased a new position in shares of World Kinect during the 3rd quarter valued at $201,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

WKC has been the subject of several research analyst reports. Stifel Nicolaus cut World Kinect from a “buy” rating to a “hold” rating and cut their target price for the stock from $33.00 to $32.00 in a research report on Friday, October 25th. JPMorgan Chase & Co. increased their price objective on shares of World Kinect from $29.00 to $32.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Bank of America boosted their target price on shares of World Kinect from $24.00 to $27.00 and gave the stock an “underperform” rating in a report on Friday, September 13th. Finally, Morgan Stanley cut shares of World Kinect from an “equal weight” rating to an “underweight” rating and set a $28.00 target price for the company. in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $30.20.

World Kinect Price Performance

NYSE WKC opened at $27.00 on Friday. The company has a market cap of $1.57 billion, a PE ratio of 12.00, a P/E/G ratio of 1.10 and a beta of 1.28. World Kinect Co. has a 52-week low of $21.21 and a 52-week high of $31.70. The company has a debt-to-equity ratio of 0.39, a quick ratio of 0.99 and a current ratio of 1.16. The firm’s 50 day moving average price is $27.96 and its 200-day moving average price is $28.06.

World Kinect (NYSE:WKC) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.62 EPS for the quarter, meeting the consensus estimate of $0.62. The business had revenue of $10.49 billion during the quarter, compared to analyst estimates of $11.77 billion. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The company’s quarterly revenue was down 14.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Sell-side analysts forecast that World Kinect Co. will post 2.12 EPS for the current fiscal year.

World Kinect Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Stockholders of record on Monday, December 23rd will be issued a dividend of $0.17 per share. The ex-dividend date is Monday, December 23rd. This represents a $0.68 annualized dividend and a dividend yield of 2.52%. World Kinect’s dividend payout ratio (DPR) is currently 30.22%.

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.