Boston Partners Trims Stock Holdings in World Kinect Corporation $WKC

Key Points

• Boston Partners decreased its stake in World Kinect Corporation by 1.3%, selling 19,758 shares, and now owns approximately 2.60% of the company, valued at $40.7 million.
• Several hedge funds increased their positions in World Kinect, with PNC Financial Services boosting their stake by 86.5% and owning 6,307 shares valued at $179,000.
• Analysts have mixed ratings for World Kinect, with a recent average target price set at $29.40, and some firms like Bank of America and Morgan Stanley lowering their price targets to $26.00.

Boston Partners cut its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 1.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,472,268 shares of the company's stock after selling 19,758 shares during the quarter. Boston Partners owned approximately 2.60% of World Kinect worth $40,686,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. LSV Asset Management raised its position in shares of World Kinect by 29.0% in the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock valued at $43,959,000 after purchasing an additional 348,214 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings 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 buying an additional 216,903 shares during the period. Northern Trust Corp increased its holdings in World Kinect by 6.2% in the 4th quarter. Northern Trust Corp now owns 702,751 shares of the company's stock worth $19,333,000 after buying an additional 41,227 shares during the period. Ameriprise Financial Inc. grew its stake in shares of World Kinect by 118.7% during 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 period. Finally, Bridgeway Capital Management LLC grew its stake in shares of World Kinect by 2.8% during the 4th quarter. Bridgeway Capital Management LLC now owns 569,103 shares of the company's stock worth $15,656,000 after purchasing an additional 15,234 shares during the period. 97.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WKC has been the topic of a number of analyst reports. Morgan Stanley dropped 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. Bank of America dropped 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. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, World Kinect presently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Trading Down 0.1%

Shares of NYSE WKC traded down $0.0320 during trading on Wednesday, hitting $25.8080. 526,289 shares of the company were exchanged, compared to its average volume of 631,809. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The company has a fifty day moving average price of $27.59 and a 200-day moving average price of $27.28. The firm has a market capitalization of $1.43 billion, a PE ratio of -3.38, a P/E/G ratio of 1.17 and a beta of 1.39.

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

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.20 per share. 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 dividend payout ratio is presently -10.48%.

About World Kinect

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.