Universal Beteiligungs und Servicegesellschaft mbH Boosts Position in World Kinect Corporation (NYSE:WKC)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH increased its stake in World Kinect Corporation by 63.1%, owning 102,319 shares valued at approximately $2.90 million as of the latest SEC filing.
• World Kinect recently declared a quarterly dividend of $0.20, up from $0.17, providing a yield of 2.83% and reflecting a high dividend payout ratio of 333.33%.
• Bank of America downgraded World Kinect's price target from $27.00 to $26.00, indicating an "underperform" rating amidst institutional investors holding 97.06% of the stock.

Universal Beteiligungs und Servicegesellschaft mbH grew its position in World Kinect Corporation (NYSE:WKC - Free Report) by 63.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 102,319 shares of the company's stock after acquiring an additional 39,600 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.18% of World Kinect worth $2,902,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Headlands Technologies LLC purchased a new position in World Kinect in the 4th quarter worth about $48,000. New Age Alpha Advisors LLC purchased a new position in World Kinect in the 4th quarter worth about $98,000. EP Wealth Advisors LLC increased its stake in World Kinect by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock worth $209,000 after buying an additional 1,104 shares during the period. Eukles Asset Management increased its stake in World Kinect by 17.6% in the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock worth $221,000 after buying an additional 1,165 shares during the period. Finally, Quantinno Capital Management LP bought a new position in World Kinect during the 4th quarter worth about $224,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

Several research analysts have issued reports on WKC shares. Bank of America dropped their target price on shares of World Kinect from $27.00 to $26.00 and set an "underperform" rating on the stock in a report on Friday, April 25th. Raymond James Financial reiterated an "outperform" rating and set a $33.00 target price (down from $35.00) on shares of World Kinect in a report on Friday. Two analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, World Kinect has an average rating of "Hold" and a consensus price target of $29.80.

World Kinect Stock Down 7.2%

Shares of NYSE:WKC traded down $1.95 during trading on Friday, reaching $25.32. The stock had a trading volume of 1,369,686 shares, compared to its average volume of 490,405. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The company has a market capitalization of $1.43 billion, a P/E ratio of -3.32, a PEG ratio of 1.19 and a beta of 1.40. The company has a current ratio of 1.15, a quick ratio of 1.00 and a debt-to-equity ratio of 0.41. The firm's 50-day simple moving average is $28.20 and its 200 day simple moving average is $27.54.

World Kinect (NYSE:WKC - Get Free Report) last released its quarterly earnings results 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 negative net margin of 1.11% and a positive return on equity of 6.73%. The business had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. As a group, research analysts expect that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.2%. The ex-dividend date of this dividend was Tuesday, June 17th. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's payout ratio is 333.33%.

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.