World Kinect Corporation $WKC Shares Acquired by Russell Investments Group Ltd.

Key Points

• Russell Investments Group Ltd. increased its stake in World Kinect Corporation by 60.6% during the first quarter, bringing its total ownership to approximately 0.16% of the company, valued at about $2.49 million.
• World Kinect recently announced a quarterly dividend of $0.20, an increase from the previous $0.17, resulting in an annual dividend yield of 3.0%.
• The company's most recent earnings report showed earnings per share of $0.59, surpassing analysts' expectations of $0.48, but fell short on revenue with $9.04 billion compared to the estimated $9.32 billion.

Russell Investments Group Ltd. increased its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 60.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 87,902 shares of the company's stock after buying an additional 33,159 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of World Kinect worth $2,493,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. 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 during the period. Natixis Advisors LLC acquired a new position in shares of World Kinect in the first quarter worth $405,000. CWA Asset Management Group LLC acquired a new position in shares of World Kinect in the first quarter worth $490,000. Entropy Technologies LP acquired a new position in shares of World Kinect in the first quarter worth $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of World Kinect in the fourth quarter worth $1,725,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Wall Street Analysts Forecast Growth

WKC has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research note on Wednesday, August 6th. Raymond James Financial reiterated an "outperform" rating and set a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce" and a consensus target price of $29.40.

World Kinect Stock Performance

WKC traded down $0.18 on Friday, reaching $26.64. The company had a trading volume of 130,711 shares, compared to its average volume of 697,209. World Kinect Corporation has a 1 year low of $22.70 and a 1 year high of $31.70. The stock has a market capitalization of $1.48 billion, a PE ratio of -3.49, a P/E/G ratio of 1.23 and a beta of 1.39. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. The stock has a 50-day moving average price of $27.41 and a 200-day moving average price of $27.21.

World Kinect (NYSE:WKC - Get Free Report) last announced 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 7.07%. The firm had revenue of $9.04 billion during the quarter, compared to analysts' expectations of $9.32 billion. As a group, research analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

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

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.