World Kinect Corporation $WKC Position Lowered by Hotchkis & Wiley Capital Management LLC

Key Points

• Hotchkis & Wiley Capital Management LLC reduced its stake in World Kinect Corporation by 3.7%, now owning approximately 0.81% of the company after selling 17,620 shares.
• World Kinect Corporation's recent quarterly earnings beat consensus estimates, reporting $0.59 EPS against expectations of $0.48, although its revenue fell short at $9.04 billion.
• The company declared a quarterly dividend of $0.20 per share, reflecting a positive increase from previous dividends, which corresponds to an annualized yield of 3.0%.

Hotchkis & Wiley Capital Management LLC lessened its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 3.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 456,741 shares of the company's stock after selling 17,620 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.81% of World Kinect worth $12,953,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas lifted its position in shares of World Kinect by 94.5% in the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company's stock valued at $946,000 after acquiring an additional 16,211 shares in the last quarter. Natixis Advisors LLC purchased a new position in World Kinect in the 1st quarter worth about $405,000. CWA Asset Management Group LLC purchased a new position in World Kinect in the 1st quarter worth about $490,000. Entropy Technologies LP purchased a new stake in World Kinect in the first quarter worth about $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in World Kinect in the fourth quarter valued at about $1,725,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WKC. Morgan Stanley dropped their price target on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research note on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating and set a $33.00 price objective (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Reduce" and an average target price of $29.40.

World Kinect Stock Performance

Shares of NYSE WKC traded down $0.15 during midday trading on Friday, reaching $26.66. 76,743 shares of the company were exchanged, compared to its average volume of 696,866. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 1 year low of $22.70 and a 1 year high of $31.70. The stock has a fifty day simple moving average of $27.41 and a 200 day simple moving average of $27.21. The stock has a market cap of $1.48 billion, a P/E ratio of -3.50, a PEG ratio of 1.23 and a beta of 1.39.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping 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 firm had revenue of $9.04 billion for the quarter, compared to the consensus estimate of $9.32 billion. On average, research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

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

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.