World Kinect Corporation $WKC Shares Bought by Vest Financial LLC

Key Points

• Vest Financial LLC increased its holdings in World Kinect Corporation by 24.9% during Q2, owning 73,975 shares worth approximately $2.1 million.
• World Kinect announced a quarterly dividend of $0.20, with a 3.2% yield, set to be paid on October 16, 2023.
• The company's shares saw a price opening at $25.30, with a market capitalization of $1.40 billion and a 52-week trading range between $22.70 and $31.64.

Vest Financial LLC grew its holdings in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 24.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 73,975 shares of the company's stock after purchasing an additional 14,754 shares during the period. Vest Financial LLC owned 0.13% of World Kinect worth $2,097,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new stake in shares of World Kinect during the first quarter worth $32,000. Quarry LP acquired a new stake in shares of World Kinect in the 1st quarter worth about $38,000. GAMMA Investing LLC increased its holdings in shares of World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company's stock worth $45,000 after acquiring an additional 344 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of World Kinect by 86.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company's stock worth $179,000 after acquiring an additional 2,925 shares during the period. Finally, AlphaQuest LLC increased its holdings in shares of World Kinect by 576.8% in the 1st quarter. AlphaQuest LLC now owns 6,680 shares of the company's stock worth $189,000 after acquiring an additional 5,693 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Stock Performance

Shares of WKC opened at $25.30 on Wednesday. The firm has a 50-day moving average price of $26.01 and a 200 day moving average price of $26.64. The firm has a market capitalization of $1.40 billion, a PE ratio of -3.32, a P/E/G ratio of 1.14 and a beta of 1.31. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.64.

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

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a yield of 3.2%. The ex-dividend date is Tuesday, September 30th. World Kinect's dividend payout ratio is currently -10.48%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on WKC. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of World Kinect in a report on Wednesday, October 8th. Zacks Research raised shares of World Kinect from a "hold" rating to a "strong-buy" rating in a report on Monday, September 29th. Morgan Stanley dropped their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. Finally, Raymond James Financial reaffirmed an "outperform" rating and issued a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $28.75.

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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