Petrus Trust Company LTA Invests $473,000 in World Kinect Corporation $WKC

Key Points

• Petrus Trust Company LTA invested $473,000 in World Kinect Corporation, acquiring 16,690 shares during the first quarter of the year.
• Institutional investors hold 97.06% of World Kinect's stock, with significant increases in holdings from firms like Millennium Management and Cubist Systematic Strategies.
• Analysts have mixed views on World Kinect, with a current consensus rating of "Reduce" and an average target price of $29.40.

Petrus Trust Company LTA bought a new position in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 16,690 shares of the company's stock, valued at approximately $473,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. LSV Asset Management boosted its holdings 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. Jacobs Levy Equity Management Inc. boosted its holdings in shares of World Kinect by 24.0% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company's stock worth $30,804,000 after purchasing an additional 216,903 shares during the last quarter. Northern Trust Corp lifted its holdings in World Kinect by 6.2% in the fourth quarter. Northern Trust Corp now owns 702,751 shares of the company's stock valued at $19,333,000 after acquiring an additional 41,227 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in World Kinect by 118.7% in the fourth quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock valued at $17,378,000 after acquiring an additional 342,823 shares during the last quarter. Finally, Bridgeway Capital Management LLC lifted its holdings in World Kinect by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 575,621 shares of the company's stock valued at $16,325,000 after acquiring an additional 6,518 shares during the last quarter. 97.06% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on WKC shares. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley decreased their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Reduce" and a consensus price target of $29.40.

World Kinect Trading Down 2.2%

NYSE WKC traded down $0.56 on Wednesday, reaching $25.38. The stock had a trading volume of 790,457 shares, compared to its average volume of 714,109. The firm has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.33, 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 Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The stock has a fifty day moving average price of $27.21 and a two-hundred day moving average price of $27.13.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The company had revenue of $9.04 billion for 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%. As a group, sell-side analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal 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.