Brandywine Global Investment Management LLC Purchases 12,161 Shares of World Kinect Corporation $WKC

Key Points

• Brandywine Global Investment Management LLC increased its stake in World Kinect Corporation by 6.2% in the first quarter, owning approximately 209,277 shares valued at about $5.9 million.
• After recent earnings, analysts adjusted price targets for WKC stock, with Raymond James setting a target at $33, down from $35, while Morgan Stanley lowered theirs from $32 to $26.
• World Kinect recently announced an increase in its quarterly dividend from $0.17 to $0.20, reflecting a 3.2% yield and a payout ratio of -10.48%.

Brandywine Global Investment Management LLC raised its stake in World Kinect Corporation (NYSE:WKC - Free Report) by 6.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 209,277 shares of the company's stock after purchasing an additional 12,161 shares during the quarter. Brandywine Global Investment Management LLC owned 0.37% of World Kinect worth $5,935,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WKC. Caitong International Asset Management Co. Ltd bought a new stake in World Kinect in the first quarter valued at approximately $32,000. PNC Financial Services Group Inc. lifted its position in 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 purchasing an additional 2,925 shares during the last quarter. EP Wealth Advisors LLC lifted its position 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 purchasing an additional 1,104 shares during the last quarter. Eukles Asset Management lifted its position in World Kinect by 17.6% in the first quarter. Eukles Asset Management now owns 7,800 shares of the company's stock valued at $221,000 after purchasing an additional 1,165 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new stake in World Kinect in the fourth quarter valued at approximately $224,000. Institutional investors own 97.06% of the company's stock.

World Kinect Trading Up 3.4%

Shares of World Kinect stock traded up $0.8830 during midday trading on Friday, reaching $26.7030. 556,841 shares of the company's stock traded hands, compared to its average volume of 642,026. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13. The company has a market cap of $1.48 billion, a PE ratio of -3.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39. The stock has a 50 day moving average of $27.52 and a 200-day moving average of $27.25. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70.

World Kinect (NYSE:WKC - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $0.59 EPS for the quarter, beating analysts' consensus estimates of $0.48 by $0.11. The company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. As a group, equities analysts expect that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

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

Analyst Ratings Changes

Several analysts have weighed in on the company. Bank of America lowered their price objective on World Kinect from $27.00 to $26.00 and set an "underperform" rating for the company in a research report on Friday, April 25th. Raymond James Financial restated an "outperform" rating and set a $33.00 target price (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Finally, Morgan Stanley decreased their target price on World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Reduce" and a consensus price target of $29.40.

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.