Natixis Advisors LLC Invests $405,000 in World Kinect Corporation (NYSE:WKC)

Key Points

• Natixis Advisors LLC has acquired 14,298 shares of World Kinect Corporation (NYSE:WKC), valued at approximately $405,000, highlighting continued interest from institutional investors who own over 97% of the company's stock.
• The stock price target for World Kinect has been adjusted by several research firms, with Raymond James lowering its target to $33.00 and Bank of America reducing it to $26.00, indicating a mixed outlook from analysts.
• World Kinect recently declared an increased quarterly dividend of $0.20 per share, shifting from its previous $0.17 dividend, which reflects a positive adjustment in its returns to shareholders.

Natixis Advisors LLC bought a new position in shares of World Kinect Corporation (NYSE:WKC - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 14,298 shares of the company's stock, valued at approximately $405,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Invesco Ltd. raised its position in World Kinect by 30.6% in the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after purchasing an additional 719,631 shares during the last quarter. Millennium Management LLC raised its position in World Kinect by 639.9% in the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after purchasing an additional 440,168 shares during the last quarter. Two Sigma Investments LP raised its position in World Kinect by 311.1% in the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock worth $7,176,000 after purchasing an additional 384,413 shares during the last quarter. Ameriprise Financial Inc. raised its position in World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock worth $17,378,000 after purchasing an additional 342,823 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in World Kinect by 24.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock worth $30,804,000 after purchasing an additional 216,903 shares during the last quarter. Institutional investors own 97.06% of the company's stock.

World Kinect Trading Up 1.7%

NYSE:WKC traded up $0.44 during trading hours on Wednesday, hitting $26.00. The stock had a trading volume of 738,335 shares, compared to its average volume of 627,062. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The business's 50 day moving average is $27.84 and its 200-day moving average is $27.38. The company has a market cap of $1.44 billion, a price-to-earnings ratio of -3.41, a P/E/G ratio of 1.16 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. Sell-side analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were given a $0.20 dividend. This is a boost from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 17th. World Kinect's payout ratio is presently -10.48%.

Analyst Ratings Changes

WKC has been the topic of a number of recent research reports. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley reduced their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Finally, Bank of America reduced their price objective on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a research note on Friday, April 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $29.40.

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.