Deutsche Bank AG Sells 45,012 Shares of World Kinect Corporation $WKC

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 reduced its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 42.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cetera Investment Advisers increased its holdings in shares of World Kinect by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 9,250 shares of the company's stock worth $262,000 after buying an additional 451 shares during the last quarter. SummerHaven Investment Management LLC grew its holdings in shares of World Kinect by 1.7% during the 1st quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company's stock valued at $881,000 after purchasing an additional 509 shares during the last quarter. Nisa Investment Advisors LLC grew its holdings in World Kinect by 0.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company's stock worth $1,799,000 after acquiring an additional 509 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 acquiring an additional 707 shares during the last quarter. Finally, Vident Advisory LLC grew its holdings in 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 acquiring an additional 748 shares during the last quarter. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Price Performance

World Kinect stock opened at $25.7830 on Friday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.70. The company has a market cap of $1.43 billion, a price-to-earnings ratio of -3.38, a PEG ratio of 1.17 and a beta of 1.39. The firm's fifty day moving average is $27.54 and its 200 day moving average is $27.27.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The business had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. Sell-side analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.1%. 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 dividend payout ratio (DPR) is currently -10.48%.

Analysts Set New Price Targets

WKC has been the subject of several research analyst reports. 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 research report on Friday, August 1st. Morgan Stanley decreased 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. Finally, Bank of America reduced their price target on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. One equities 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 stock. Based on data from MarketBeat, World Kinect presently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Company 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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