Dimensional Fund Advisors LP Has $115.17 Million Position in World Kinect Corporation $WKC

Key Points

• Dimensional Fund Advisors LP has reduced its holdings in World Kinect Corporation by 1.7%, now owning 4,061,113 shares worth approximately $115.2 million.
• Several institutional investors, including the Teacher Retirement System of Texas, increased their stakes in World Kinect, highlighting significant activity among hedge funds in the stock.
• Analysts remain cautious about World Kinect, with target prices being reduced; the stock currently holds a consensus average rating of "Reduce" and a target price of $29.40.

Dimensional Fund Advisors LP decreased its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 1.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,061,113 shares of the company's stock after selling 69,165 shares during the quarter. Dimensional Fund Advisors LP owned approximately 7.17% of World Kinect worth $115,173,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in WKC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of World Kinect during the 1st quarter worth about $32,000. PNC Financial Services Group Inc. lifted its stake in shares of World Kinect by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after buying an additional 2,925 shares during the last quarter. EP Wealth Advisors LLC lifted its stake in shares of World Kinect by 17.0% during the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock worth $209,000 after buying an additional 1,104 shares during the last quarter. Eukles Asset Management lifted its position in World Kinect by 17.6% during the first quarter. Eukles Asset Management now owns 7,800 shares of the company's stock worth $221,000 after acquiring an additional 1,165 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new stake in World Kinect during the fourth quarter worth approximately $224,000. Institutional investors and hedge funds own 97.06% of the company's stock.

Analyst Ratings Changes

WKC has been the subject of several research reports. Morgan Stanley cut their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research report on Wednesday, August 6th. Raymond James Financial reissued an "outperform" rating and set a $33.00 price target (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, World Kinect currently has an average rating of "Reduce" and a consensus target price of $29.40.

World Kinect Price Performance

Shares of NYSE WKC traded up $0.41 during midday trading on Wednesday, reaching $27.06. The company's stock had a trading volume of 127,545 shares, compared to its average volume of 697,605. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. World Kinect Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.70. The business's 50 day moving average price is $27.46 and its two-hundred day moving average price is $27.22. The company has a market cap of $1.50 billion, a P/E ratio of -3.54, a P/E/G ratio of 1.20 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results 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. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. On average, analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

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

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.