275,924 Shares in World Kinect Corporation $WKC Bought by Nuveen LLC

Key Points

• Nuveen LLC acquired 275,924 shares of World Kinect Corporation (NYSE:WKC), valued at approximately $7.8 million, representing about 0.49% ownership at the end of the first quarter.
• Analysts have mixed ratings on World Kinect, with a current average rating of "Reduce" and a revised price target of $29.40, down from previous estimates.
• World Kinect increased its quarterly dividend to $0.20 per share, up from $0.17, indicating a dividend yield of 3.0% and a payout ratio of -10.48%.

Nuveen LLC bought a new position in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 275,924 shares of the company's stock, valued at approximately $7,825,000. Nuveen LLC owned 0.49% of World Kinect at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in WKC. Teacher Retirement System of Texas grew its position in World Kinect by 94.5% during the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company's stock worth $946,000 after buying an additional 16,211 shares in the last quarter. Natixis Advisors LLC acquired a new stake in World Kinect during the first quarter worth approximately $405,000. CWA Asset Management Group LLC acquired a new stake in World Kinect during the first quarter worth approximately $490,000. Entropy Technologies LP acquired a new stake in World Kinect during the first quarter worth approximately $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in World Kinect during the fourth quarter worth approximately $1,725,000. Institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Morgan Stanley reduced their price target on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Reduce" and a consensus price target of $29.40.

World Kinect Price Performance

Shares of NYSE WKC traded down $0.05 during mid-day trading on Friday, hitting $26.77. 477,028 shares of the stock traded hands, compared to its average volume of 635,603. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.70. The company has a market cap of $1.49 billion, a PE ratio of -3.51, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39. The firm has a 50 day simple moving average of $27.39 and a two-hundred day simple moving average of $27.20.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The company had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities research analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.0%. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio is -10.48%.

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.