Allianz Asset Management GmbH Has $3.60 Million Stock Position in World Kinect Corporation $WKC

Key Points

• Allianz Asset Management GmbH increased its stake in World Kinect Corporation by 9.4% during the second quarter, now owning approximately $3.60 million worth of stock.
• World Kinect's recent earnings report showed an EPS of $0.54, which missed the consensus estimate, with revenue down 10.5% year-over-year.
• The company declared a quarterly dividend of $0.20 per share, representing an annualized yield of 3.1%, despite a negative dividend payout ratio of -10.48%.

Allianz Asset Management GmbH grew its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 9.4% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 126,824 shares of the company's stock after purchasing an additional 10,943 shares during the period. Allianz Asset Management GmbH owned about 0.22% of World Kinect worth $3,595,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd bought a new stake in World Kinect during the 1st quarter worth approximately $32,000. Quarry LP bought a new stake in World Kinect during the 1st quarter worth approximately $38,000. GAMMA Investing LLC increased its holdings in World Kinect by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock worth $45,000 after purchasing an additional 344 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in World Kinect by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after purchasing an additional 2,925 shares in the last quarter. Finally, AlphaQuest LLC increased its holdings in World Kinect by 576.8% during the 1st quarter. AlphaQuest LLC now owns 6,680 shares of the company's stock worth $189,000 after purchasing an additional 5,693 shares in the last quarter. 97.06% of the stock is owned by institutional investors.

World Kinect Stock Performance

WKC stock opened at $25.70 on Friday. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.54. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $26.00 and a 200-day moving average of $26.57. The firm has a market cap of $1.43 billion, a PE ratio of -3.37, a P/E/G ratio of 1.16 and a beta of 1.31.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.61 by ($0.07). World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.39 billion during the quarter, compared to analysts' expectations of $9.38 billion. During the same quarter in the previous year, the company posted $0.62 EPS. World Kinect's revenue for the quarter was down 10.5% on a year-over-year basis. As a group, sell-side analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were paid a $0.20 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect's dividend payout ratio is presently -10.48%.

Analyst Ratings Changes

A number of analysts have commented on WKC shares. Morgan Stanley decreased their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Weiss Ratings reissued a "sell (d+)" rating on shares of World Kinect in a report on Wednesday, October 8th. Zacks Research raised World Kinect from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, World Kinect has an average rating of "Hold" and an average target price of $28.75.

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.

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