Rhumbline Advisers Has $5.20 Million Holdings in World Kinect Corporation $WKC

Key Points

• Rhumbline Advisers reduced its stake in World Kinect Corporation by 12.2%, holding approximately 183,394 shares valued at $5.2 million after selling 25,586 shares.
• World Kinect's recent earnings report showed earnings per share of $0.59, surpassing expectations, despite a revenue of $9.04 billion falling short of the $9.32 billion consensus estimate.
• Analysts have mixed views on World Kinect's stock, with a current average rating of "Reduce" and a consensus target price of $29.40, while some firms have adjusted their target prices, indicating cautious sentiment.

Rhumbline Advisers lessened its position in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 12.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 183,394 shares of the company's stock after selling 25,586 shares during the period. Rhumbline Advisers owned approximately 0.32% of World Kinect worth $5,201,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in shares of World Kinect by 5.1% in the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company's stock valued at $262,000 after buying an additional 451 shares during the period. SummerHaven Investment Management LLC boosted its stake in shares of World Kinect by 1.7% in the first quarter. SummerHaven Investment Management LLC now owns 31,049 shares of the company's stock valued at $881,000 after buying an additional 509 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of World Kinect by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company's stock valued at $1,799,000 after buying an additional 509 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of World Kinect by 2.2% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company's stock valued at $893,000 after buying an additional 707 shares during the period. Finally, Vident Advisory LLC boosted its stake in shares of World Kinect by 4.4% in the fourth quarter. Vident Advisory LLC now owns 17,831 shares of the company's stock valued at $491,000 after buying an additional 748 shares during the period. Institutional investors own 97.06% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Raymond James Financial reiterated an "outperform" rating and issued a $33.00 price target (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley lowered their price objective on shares of World Kinect from $32.00 to $26.00 and set an "underweight" rating for the company in a research 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 given a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Reduce" and an average price target of $29.40.

World Kinect Price Performance

WKC traded up $0.74 during trading on Thursday, hitting $26.93. 1,900,227 shares of the stock traded hands, compared to its average volume of 729,592. 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 $1.50 billion, a price-to-earnings ratio of -3.53, a PEG ratio of 1.19 and a beta of 1.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. The business has a 50 day moving average price of $26.71 and a 200 day moving average price of $26.96.

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 (EPS) for the quarter, topping the consensus estimate 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 negative net margin of 1.11% and a positive return on equity of 7.07%. Equities research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.0%. World Kinect's dividend payout ratio is -10.48%.

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.