Centricity Wealth Management LLC Invests $74,000 in World Kinect Co. (NYSE:WKC)

Centricity Wealth Management LLC acquired a new stake in shares of World Kinect Co. (NYSE:WKC) during the fourth quarter, according to its most recent disclosure with the SEC. The fund acquired 2,700 shares of the company’s stock, valued at approximately $74,000.

A number of other hedge funds also recently made changes to their positions in WKC. Highland Capital Management LLC lifted its holdings in World Kinect by 6.7% during the fourth quarter. Highland Capital Management LLC now owns 8,728 shares of the company’s stock valued at $240,000 after purchasing an additional 547 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of World Kinect during the 4th quarter valued at $25,000. Wilmington Savings Fund Society FSB purchased a new position in shares of World Kinect during the 3rd quarter valued at $31,000. Quarry LP lifted its stake in shares of World Kinect by 3,600.0% during the 3rd quarter. Quarry LP now owns 1,073 shares of the company’s stock valued at $33,000 after buying an additional 1,044 shares in the last quarter. Finally, Savant Capital LLC boosted its holdings in World Kinect by 16.5% in the 4th quarter. Savant Capital LLC now owns 7,573 shares of the company’s stock worth $208,000 after buying an additional 1,071 shares during the period. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Stifel Nicolaus decreased their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a report on Friday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the company. According to MarketBeat, World Kinect currently has an average rating of “Hold” and an average price target of $29.80.

World Kinect Price Performance

WKC stock opened at $30.72 on Friday. 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 company’s fifty day moving average price is $27.89 and its 200-day moving average price is $28.46. World Kinect Co. has a one year low of $21.38 and a one year high of $31.70. The company has a market capitalization of $1.78 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 0.88 and a beta of 1.27.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.05. World Kinect had a net margin of 0.30% and a return on equity of 6.29%. The company had revenue of $9.76 billion for the quarter, compared to the consensus estimate of $10.57 billion. On average, equities analysts anticipate that World Kinect Co. will post 2.08 EPS for the current fiscal year.

World Kinect Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 16th. Investors of record on Monday, December 23rd were given a $0.17 dividend. The ex-dividend date was Monday, December 23rd. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.21%. World Kinect’s dividend payout ratio 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.