Counterpoint Mutual Funds LLC Invests $750,000 in World Kinect Corporation $WKC

Key Points

• Counterpoint Mutual Funds LLC has invested approximately $750,000 in World Kinect Corporation, acquiring 26,452 shares during the second quarter.
• World Kinect's stock performance is currently facing mixed analyst ratings, with an average rating of "Reduce" and a price target of $28.75.
• The company recently announced a quarterly dividend of $0.20, representing a yield of 3.1%, with a payout ratio of -10.48%.

Counterpoint Mutual Funds LLC bought a new position in World Kinect Corporation (NYSE:WKC - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 26,452 shares of the company's stock, valued at approximately $750,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WKC. Cetera Investment Advisers purchased a new position in shares of World Kinect in the 4th quarter worth approximately $242,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of World Kinect by 2.2% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock worth $893,000 after purchasing an additional 707 shares during the period. Quantinno Capital Management LP bought a new stake in shares of World Kinect in the 4th quarter worth approximately $224,000. Two Sigma Investments LP raised its holdings in shares of 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 period. Finally, Vident Advisory LLC raised its holdings in shares of World Kinect by 4.4% in the 4th quarter. Vident Advisory LLC now owns 17,831 shares of the company's stock worth $491,000 after purchasing an additional 748 shares during the period. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley lowered their price target on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, World Kinect presently has an average rating of "Reduce" and an average price target of $28.75.

World Kinect Stock Down 1.2%

WKC opened at $26.08 on Tuesday. The company has a fifty day moving average price of $26.60 and a 200-day moving average price of $26.91. The firm has a market capitalization of $1.45 billion, a P/E ratio of -3.42, a price-to-earnings-growth ratio of 1.20 and a beta of 1.38. 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 one year low of $22.70 and a one year high of $31.64.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The firm had revenue of $9.04 billion during 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%. Equities research analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.20 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect's payout ratio is -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.

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