World Kinect Corporation $WKC Shares Sold by Northern Trust Corp

Northern Trust Corp reduced its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 685,031 shares of the company's stock after selling 17,720 shares during the period. Northern Trust Corp owned 1.21% of World Kinect worth $19,427,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WKC. Millennium Management LLC raised its position in shares of World Kinect by 639.9% during the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock worth $14,001,000 after purchasing an additional 440,168 shares during the last quarter. Two Sigma Investments LP raised its position in shares of World Kinect by 311.1% during the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock worth $7,176,000 after purchasing an additional 384,413 shares during the last quarter. LSV Asset Management raised its position in shares of World Kinect by 29.0% during the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock worth $43,959,000 after purchasing an additional 348,214 shares during the last quarter. Ameriprise Financial Inc. raised its position in shares of World Kinect by 118.7% during the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock worth $17,378,000 after purchasing an additional 342,823 shares during the last quarter. Finally, Nuveen LLC acquired a new position in World Kinect in the 1st quarter valued at $7,825,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

World Kinect Trading Down 0.8%

Shares of NYSE WKC traded down $0.21 during trading on Friday, hitting $26.58. 3,300,862 shares of the company traded hands, compared to its average volume of 551,051. World Kinect Corporation has a 1 year low of $22.70 and a 1 year high of $31.70. The company has a 50-day moving average price of $27.31 and a 200-day moving average price of $27.17. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.48, a P/E/G ratio of 1.21 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 announced its quarterly earnings data on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts' expectations of $9.32 billion. On average, equities analysts predict that World Kinect Corporation will post 2.56 EPS for the current year.

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.