World Kinect Corporation $WKC Shares Sold by Dimensional Fund Advisors LP

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

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new position in World Kinect in the 1st quarter worth approximately $32,000. PNC Financial Services Group Inc. boosted its holdings in World Kinect by 86.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after acquiring an additional 2,925 shares during the period. EP Wealth Advisors LLC boosted 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 valued at $209,000 after buying an additional 1,104 shares during the last quarter. Eukles Asset Management boosted its stake in shares of World Kinect by 17.6% during the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock valued at $221,000 after buying an additional 1,165 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new position in shares of World Kinect during the 4th quarter valued at approximately $224,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Stock Performance

WKC traded down $0.29 during trading hours on Thursday, hitting $26.82. 962,554 shares of the stock were exchanged, compared to its average volume of 622,466. The stock has a 50-day simple moving average of $27.41 and a 200-day simple moving average of $27.21. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of -3.51, a price-to-earnings-growth ratio of 1.23 and a beta of 1.39. 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 (NYSE:WKC - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The firm had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. Analysts anticipate that World Kinect Corporation will post 2.56 earnings per share 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 is a boost from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 annualized dividend and a yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 17th. World Kinect's dividend payout ratio is -10.48%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Raymond James Financial reiterated an "outperform" rating and set a $33.00 target price (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. 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 research note on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, World Kinect has an average rating of "Reduce" and an average price target 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.