Charles Schwab Investment Management Inc. Reduces Stake in World Kinect Corporation $WKC

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in World Kinect Corporation by 3.1%, now owning 1,322,901 shares worth approximately $37.5 million.
• World Kinect recently increased its quarterly dividend to $0.20 per share from $0.17, representing an annualized yield of 3.1%.
• Despite beating EPS estimates for the last quarter, the company reported negative net margins of -1.11% and revenue slightly below expectations at $9.04 billion.

Charles Schwab Investment Management Inc. lowered its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 3.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,322,901 shares of the company's stock after selling 41,740 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.34% of World Kinect worth $37,517,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. raised 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 valued at $179,000 after buying an additional 2,925 shares during the period. EP Wealth Advisors LLC raised its holdings in shares of World Kinect by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company's stock valued at $209,000 after buying an additional 1,104 shares during the period. Eukles Asset Management raised its holdings in shares of World Kinect by 17.6% in the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company's stock valued at $221,000 after buying an additional 1,165 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of World Kinect in the 4th quarter valued at $224,000. Finally, Cetera Investment Advisers purchased a new stake in shares of World Kinect in the 4th quarter valued at $242,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on WKC. Bank of America cut their price objective on 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 issued a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Finally, Morgan Stanley cut their price objective on World Kinect from $32.00 to $26.00 and set an "underweight" rating on the stock in a report on Wednesday, August 6th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, World Kinect currently has a consensus rating of "Reduce" and a consensus target price of $29.40.

World Kinect Stock Up 3.4%

WKC traded up $0.8830 on Friday, hitting $26.7030. 556,841 shares of the company were exchanged, compared to its average volume of 642,026. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.70. The company has a market cap of $1.48 billion, a price-to-earnings ratio of -3.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm has a 50-day moving average price of $27.52 and a two-hundred day moving average price of $27.25.

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

World Kinect Increases Dividend

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