GAMMA Investing LLC Grows Position in World Kinect Corporation (NYSE:WKC)

GAMMA Investing LLC raised its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 3,742.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 35,308 shares of the company's stock after purchasing an additional 34,389 shares during the period. GAMMA Investing LLC owned approximately 0.06% of World Kinect worth $1,001,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of WKC. Headlands Technologies LLC bought a new position in World Kinect during the fourth quarter valued at approximately $48,000. Centricity Wealth Management LLC purchased a new stake in World Kinect during the 4th quarter valued at $74,000. New Age Alpha Advisors LLC bought a new position in shares of World Kinect during the 4th quarter valued at $98,000. Savant Capital LLC boosted its stake in shares of World Kinect by 16.5% in the 4th quarter. Savant Capital LLC now owns 7,573 shares of the company's stock worth $208,000 after buying an additional 1,071 shares during the last quarter. Finally, EP Wealth Advisors LLC grew 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 worth $209,000 after acquiring an additional 1,104 shares during the period. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Performance

World Kinect stock traded down $0.27 during trading on Friday, reaching $27.77. The company had a trading volume of 279,894 shares, compared to its average volume of 775,977. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of 115.66, a price-to-earnings-growth ratio of 1.15 and a beta of 1.35. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $26.47 and its 200 day simple moving average is $27.41. World Kinect Corporation has a 52 week low of $22.71 and a 52 week high of $31.71.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. World Kinect had a return on equity of 6.46% and a net margin of 0.05%. The business had revenue of $9.45 billion during the quarter, compared to analysts' expectations of $10.47 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. The business's quarterly revenue was down 13.7% on a year-over-year basis. Sell-side analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be paid a dividend of $0.20 per share. This is a boost from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a yield of 2.88%. World Kinect's dividend payout ratio (DPR) is presently 333.33%.

Analyst Ratings Changes

A number of research firms have weighed in on WKC. Stifel Nicolaus lowered their target price on World Kinect from $32.00 to $30.00 and set a "hold" rating on the stock in a report on Friday, February 21st. 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 report on Friday, April 25th.

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.