Edgestream Partners L.P. Raises Holdings in World Kinect Corporation (NYSE:WKC)

Edgestream Partners L.P. raised its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 2,373.0% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 189,405 shares of the company's stock after purchasing an additional 181,746 shares during the period. Edgestream Partners L.P. owned 0.33% of World Kinect worth $5,372,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas raised its position in shares of World Kinect by 94.5% during the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company's stock valued at $946,000 after buying an additional 16,211 shares in the last quarter. CWA Asset Management Group LLC bought a new position in shares of World Kinect in the 1st quarter valued at about $490,000. Sei Investments Co. lifted its holdings in shares of World Kinect by 49.9% in the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company's stock valued at $904,000 after acquiring an additional 10,944 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in shares of World Kinect in the 4th quarter valued at about $2,978,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of World Kinect in the 4th quarter valued at about $1,725,000. Institutional investors own 97.06% of the company's stock.

Analysts Set New Price Targets

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

World Kinect Trading Down 0.8%

World Kinect stock traded down $0.24 during midday trading on Friday, reaching $28.12. The stock had a trading volume of 192,072 shares, compared to its average volume of 717,833. The company has a quick ratio of 1.00, a current ratio of 1.15 and a debt-to-equity ratio of 0.41. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.70. The firm has a market cap of $1.59 billion, a price-to-earnings ratio of 117.13, a price-to-earnings-growth ratio of 1.35 and a beta of 1.35. The company has a fifty day moving average of $28.09 and a 200 day moving average of $27.52.

World Kinect (NYSE:WKC - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.03. World Kinect had a net margin of 0.05% and a return on equity of 6.46%. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. During the same period in the prior year, the company posted $0.47 EPS. The firm's revenue for the quarter was down 13.7% on a year-over-year basis. On average, analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The company 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 is a positive change from World Kinect's previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a yield of 2.84%. The ex-dividend date of this dividend was Tuesday, June 17th. World Kinect's dividend payout ratio is 333.33%.

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.