World Kinect Corporation $WKC Shares Sold by Jacobs Levy Equity Management Inc.

Key Points

• Jacobs Levy Equity Management Inc. has reduced its stake in World Kinect Corporation ($WKC) by 2.5%, selling 27,699 shares and retaining 1,092,051 shares valued at approximately $30.97 million.
• Other institutional investors have also modified their holdings, with a significant increase in stakes from firms like PNC Financial Services Group and AlphaQuest LLC, indicating strong institutional interest in the stock.
• World Kinect's recent quarterly earnings of $0.59 per share surpassed expectations, despite a negative net margin of 1.11% and lower revenue than projected, with analysts now anticipating an average EPS of 2.56 for the year.

Jacobs Levy Equity Management Inc. lowered its holdings in World Kinect Corporation (NYSE:WKC - Free Report) by 2.5% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,092,051 shares of the company's stock after selling 27,699 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.93% of World Kinect worth $30,971,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of WKC. Teacher Retirement System of Texas raised its holdings in shares of World Kinect by 94.5% during the first 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 last quarter. Natixis Advisors LLC bought a new stake in shares of World Kinect during the first quarter valued at approximately $405,000. CWA Asset Management Group LLC bought a new stake in shares of World Kinect during the first quarter valued at approximately $490,000. Entropy Technologies LP bought a new stake in shares of World Kinect during the first quarter valued at approximately $310,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of World Kinect during the fourth quarter valued at approximately $1,725,000. Institutional investors own 97.06% of the company's stock.

World Kinect Price Performance

NYSE:WKC traded down $0.56 during midday trading on Wednesday, hitting $25.38. 555,401 shares of the stock were exchanged, compared to its average volume of 712,230. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The company has a market capitalization of $1.41 billion, a price-to-earnings ratio of -3.33, a P/E/G ratio of 1.20 and a beta of 1.38. The business has a 50-day moving average price of $27.21 and a two-hundred day moving average price of $27.13. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

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, topping the consensus estimate of $0.48 by $0.11. The firm had revenue of $9.04 billion for the quarter, compared to analysts' expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Sell-side analysts predict that World Kinect Corporation will post 2.56 EPS for the current year.

Analyst Ratings Changes

WKC has been the topic of a number of recent analyst reports. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Morgan Stanley cut their price target 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Reduce" and a consensus target price of $29.40.

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.