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 purchased a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 16,690 shares of the company's stock, valued at approximately $473,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Millennium Management LLC grew its holdings in shares of World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company's stock valued at $14,909,000 after purchasing an additional 16,738 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of World Kinect by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company's stock valued at $963,000 after purchasing an additional 1,497 shares during the last quarter. Bridgeway Capital Management LLC grew its holdings in shares of World Kinect by 1.1% during the 1st quarter. Bridgeway Capital Management LLC now owns 575,621 shares of the company's stock valued at $16,325,000 after purchasing an additional 6,518 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of World Kinect by 16.5% during the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company's stock valued at $3,380,000 after purchasing an additional 16,874 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in shares of World Kinect by 35.2% during the 1st quarter. EP Wealth Advisors LLC now owns 10,283 shares of the company's stock valued at $292,000 after purchasing an additional 2,679 shares during the last quarter. 97.06% of the stock is owned by institutional investors.

World Kinect Trading Down 0.8%

WKC traded down $0.22 during trading on Friday, reaching $25.69. 157,093 shares of the company's stock were exchanged, compared to its average volume of 711,253. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $1.43 billion, a PE ratio of -3.37, a price-to-earnings-growth ratio of 1.15 and a beta of 1.38. The firm has a fifty day moving average price of $27.05 and a two-hundred day moving average price of $27.09.

World Kinect (NYSE:WKC - Get Free Report) last posted its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share 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 analyst estimates of $9.32 billion. As a group, equities research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

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.