World Kinect Corporation $WKC Holdings Cut by Deutsche Bank AG

Key Points

• Deutsche Bank AG has reduced its stake in World Kinect Corporation by 42.6%, selling 45,012 shares to end up with 60,768 shares valued at approximately $1.72 million.
• World Kinect recently announced a quarterly dividend of $0.20 per share, representing an annual yield of 3.1%, up from the previous $0.17 dividend.
• Analysts have set mixed price targets for World Kinect, with Raymond James maintaining an "outperform" rating at $33.00, while both Morgan Stanley and Bank of America have lowered their targets to $26.00.

Deutsche Bank AG trimmed its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 42.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 60,768 shares of the company's stock after selling 45,012 shares during the period. Deutsche Bank AG owned about 0.11% of World Kinect worth $1,723,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its holdings 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 bought a new stake in World Kinect during the first quarter worth approximately $405,000. CWA Asset Management Group LLC bought a new stake in World Kinect during the first quarter worth approximately $490,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in World Kinect during the fourth quarter worth approximately $1,725,000. Finally, Edgestream Partners L.P. boosted its holdings in World Kinect by 2,373.0% during the first quarter. Edgestream Partners L.P. now owns 189,405 shares of the company's stock worth $5,372,000 after buying an additional 181,746 shares in the last quarter. 97.06% of the stock is currently owned by institutional investors.

World Kinect Trading Up 1.7%

Shares of NYSE:WKC traded up $0.46 during mid-day trading on Wednesday, hitting $27.11. The stock had a trading volume of 366,297 shares, compared to its average volume of 649,832. 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 market cap of $1.51 billion, a PE ratio of -3.55, a P/E/G ratio of 1.21 and a beta of 1.39. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The company's 50 day moving average is $27.44 and its 200-day moving average is $27.22.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating the consensus estimate of $0.48 by $0.11. The business had revenue of $9.04 billion during 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%. On average, sell-side analysts predict that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on WKC shares. Morgan Stanley reduced their target price on shares of 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 restated an "outperform" rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and a consensus price target of $29.40.

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.