Teacher Retirement System of Texas Purchases 16,211 Shares of World Kinect Corporation (NYSE:WKC)

Teacher Retirement System of Texas increased its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 94.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 33,372 shares of the company's stock after acquiring an additional 16,211 shares during the period. Teacher Retirement System of Texas owned about 0.06% of World Kinect worth $946,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Invesco Ltd. lifted its holdings in World Kinect by 30.6% during the 4th quarter. Invesco Ltd. now owns 3,067,946 shares of the company's stock worth $84,399,000 after buying an additional 719,631 shares during the period. Millennium Management LLC lifted its holdings in 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 buying an additional 440,168 shares during the period. EVR Research LP lifted its holdings in World Kinect by 163.0% during the 4th quarter. EVR Research LP now owns 710,000 shares of the company's stock worth $19,532,000 after buying an additional 440,000 shares during the period. Two Sigma Investments LP lifted its holdings in 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 buying an additional 384,413 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in 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 buying an additional 342,823 shares during the period. Institutional investors own 97.06% of the company's stock.

World Kinect Stock Down 0.1%

Shares of World Kinect stock opened at $29.18 on Tuesday. World Kinect Corporation has a one year low of $22.71 and a one year high of $31.71. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.15 and a quick ratio of 1.00. The stock's 50-day moving average is $27.89 and its 200 day moving average is $27.48. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 121.56, a PEG ratio of 1.37 and a beta of 1.35.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, April 24th. The company reported $0.48 EPS for the quarter, beating the consensus estimate of $0.45 by $0.03. World Kinect had a return on equity of 6.46% and a net margin of 0.05%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm's revenue for the quarter was down 13.7% compared to the same quarter last year. Equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th will be given a dividend of $0.20 per share. This is a positive change from World Kinect's previous quarterly dividend of $0.17. The ex-dividend date of this dividend is Tuesday, June 17th. This represents a $0.80 annualized dividend and a dividend yield of 2.74%. World Kinect's dividend payout ratio is presently 333.33%.

Analysts Set New Price Targets

Separately, Bank of America cut their target price on World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th.

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.

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