Kapitalo Investimentos Ltda Purchases New Position in World Kinect Corporation $WKC

Key Points

• Kapitalo Investimentos Ltda invested approximately $707,000 in World Kinect Corporation by acquiring 24,943 shares during the second quarter.
• Despite a recent earnings report showing EPS of $0.59, analysts have mixed ratings on WKC, with a consensus rating of "Reduce" and a price target of $28.75.
• World Kinect has declared a quarterly dividend of $0.20 per share, with a payment date scheduled for October 16th, offering a 3.0% dividend yield.

Kapitalo Investimentos Ltda acquired a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 24,943 shares of the company's stock, valued at approximately $707,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of World Kinect in the first quarter valued at $32,000. Quarry LP bought a new stake in World Kinect in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC raised its stake in World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock valued at $45,000 after acquiring an additional 344 shares during the period. PNC Financial Services Group Inc. boosted its position 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 acquiring an additional 2,925 shares in the last quarter. Finally, AlphaQuest LLC boosted its holdings in World Kinect by 576.8% in the first quarter. AlphaQuest LLC now owns 6,680 shares of the company's stock valued at $189,000 after acquiring an additional 5,693 shares during the last quarter. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Price Performance

NYSE:WKC traded down $0.32 during trading hours on Monday, hitting $26.08. 806,699 shares of the company's stock traded hands, compared to its average volume of 957,306. The business's fifty day simple moving average is $26.60 and its two-hundred day simple moving average is $26.91. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.64. The firm has a market cap of $1.45 billion, a P/E ratio of -3.42, a P/E/G ratio of 1.20 and a beta of 1.38. 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 (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 company had revenue of $9.04 billion during the quarter, compared to analyst estimates of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. On average, research analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be issued a $0.20 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. World Kinect's dividend payout ratio is presently -10.48%.

Analysts Set New Price Targets

A number of research firms have recently commented on WKC. Morgan Stanley lowered their target price 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 reaffirmed an "outperform" rating and set a $33.00 price objective (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, World Kinect currently has an average rating of "Reduce" and an average price target of $28.75.

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.