Cubist Systematic Strategies LLC Has $16.27 Million Stake in World Kinect Corporation $WKC

Key Points

• Cubist Systematic Strategies LLC increased its position in World Kinect Corporation by 263.4% during Q1, acquiring 415,837 additional shares and reaching ownership of about 1.01% of the company, valued at $16.27 million.
• World Kinect recently declared a quarterly dividend of $0.20, representing an increase from its previous dividend of $0.17, with an annualized yield of 3.0%.
• Analysts have mixed ratings on World Kinect, with one Buy, two Hold, and two Sell ratings, while the average price target has been set at $29.40.

Cubist Systematic Strategies LLC grew its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 263.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 573,716 shares of the company's stock after purchasing an additional 415,837 shares during the period. Cubist Systematic Strategies LLC owned approximately 1.01% of World Kinect worth $16,271,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of World Kinect in the first quarter valued at $32,000. Quarry LP purchased a new stake in shares of World Kinect in the first quarter valued at $38,000. PNC Financial Services Group Inc. lifted its holdings in shares of World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock valued at $179,000 after purchasing an additional 2,925 shares in the last quarter. AlphaQuest LLC lifted its holdings in shares of World Kinect by 576.8% in the first quarter. AlphaQuest LLC now owns 6,680 shares of the company's stock valued at $189,000 after purchasing an additional 5,693 shares in the last quarter. Finally, EP Wealth Advisors LLC lifted its holdings in shares of World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after purchasing an additional 1,104 shares in the last quarter. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Stock Down 0.8%

Shares of NYSE WKC traded down $0.21 during mid-day trading on Friday, reaching $26.58. The company had a trading volume of 3,300,862 shares, compared to its average volume of 551,051. World Kinect Corporation has a twelve month low of $22.70 and a twelve 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 stock has a market capitalization of $1.48 billion, a PE ratio of -3.48, a price-to-earnings-growth ratio of 1.21 and a beta of 1.38. The stock's 50 day moving average is $27.31 and its 200-day moving average is $27.18.

World Kinect (NYSE:WKC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.48 by $0.11. The firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate 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 analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Morgan Stanley reduced their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 price target (down 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 issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, World Kinect has a consensus rating of "Reduce" and a consensus target price of $29.40.

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.