Northern Trust Corp Lowers Stake in World Kinect Corporation $WKC

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

Other large investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its stake 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 worth $946,000 after acquiring an additional 16,211 shares during the period. Natixis Advisors LLC bought a new stake in shares of World Kinect in the first quarter worth approximately $405,000. CWA Asset Management Group LLC bought a new stake in shares of World Kinect in the first quarter worth approximately $490,000. Entropy Technologies LP bought a new stake in shares of World Kinect in the first quarter worth approximately $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of World Kinect in the fourth quarter worth approximately $1,725,000. 97.06% of the stock is currently owned by institutional investors.

World Kinect Stock Performance

Shares of WKC stock traded down $0.24 during trading hours on Friday, reaching $26.55. 2,525,106 shares of the company traded hands, compared to its average volume of 708,249. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market cap of $1.47 billion, a P/E ratio of -3.48, a P/E/G ratio of 1.24 and a beta of 1.38. The firm has a 50-day moving average price of $27.34 and a 200 day moving average price of $27.18.

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. 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. As a group, sell-side analysts predict that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on WKC. Raymond James Financial reissued an "outperform" rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Morgan Stanley dropped their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, World Kinect currently has an average rating of "Reduce" and an average target price of $29.40.

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.