World Kinect Corporation $WKC Shares Acquired by Quantbot Technologies LP

Key Points

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Quantbot Technologies LP raised its position in World Kinect Corporation (NYSE:WKC - Free Report) by 72.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 175,885 shares of the company's stock after buying an additional 74,012 shares during the quarter. Quantbot Technologies LP owned about 0.31% of World Kinect worth $4,988,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of World Kinect during the first quarter worth about $32,000. PNC Financial Services Group Inc. boosted its stake in shares of World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock valued at $179,000 after buying an additional 2,925 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after acquiring an additional 1,104 shares during the period. Eukles Asset Management grew its stake in shares of World Kinect by 17.6% during the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock worth $221,000 after purchasing an additional 1,165 shares during the period. Finally, Quantinno Capital Management LP acquired a new stake in shares of World Kinect in the fourth quarter valued at about $224,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WKC. Raymond James Financial reiterated an "outperform" rating and set a $33.00 price target (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Bank of America cut their price target on World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research note on Friday, April 25th. Finally, Morgan Stanley lowered their price target on shares of 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 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Trading Up 3.4%

NYSE WKC traded up $0.8830 during mid-day trading on Friday, reaching $26.7030. 556,841 shares of the stock were exchanged, compared to its average volume of 642,026. The stock has a market capitalization of $1.48 billion, a PE ratio of -3.50, a PEG ratio of 1.17 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The business's fifty day simple moving average is $27.52 and its 200 day simple moving average is $27.26.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly 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. 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%. On average, research analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were issued a $0.20 dividend. This is a positive change from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.0%. World Kinect's dividend payout ratio (DPR) is presently -10.48%.

World Kinect 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.