Bahl & Gaynor Inc. lessened its stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) by 82.0% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,273 shares of the company's stock after selling 33,224 shares during the period. Bahl & Gaynor Inc.'s holdings in World Kinect were worth $206,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of the stock. Millennium Management LLC grew its stake in shares of World Kinect by 639.9% in the 4th quarter. Millennium Management LLC now owns 508,959 shares of the company's stock valued at $14,001,000 after buying an additional 440,168 shares during the period. Two Sigma Investments LP boosted its position in World Kinect by 311.1% in the 4th quarter. Two Sigma Investments LP now owns 260,864 shares of the company's stock valued at $7,176,000 after buying an additional 384,413 shares during the period. LSV Asset Management boosted its position in World Kinect by 29.0% in the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company's stock valued at $43,959,000 after buying an additional 348,214 shares during the period. Ameriprise Financial Inc. boosted its position in World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company's stock valued at $17,378,000 after buying an additional 342,823 shares during the period. Finally, Nuveen LLC purchased a new position in World Kinect in the 1st quarter valued at approximately $7,825,000. Institutional investors and hedge funds own 97.06% of the company's stock.
World Kinect Stock Down 0.2%
NYSE:WKC traded down $0.05 during midday trading on Friday, hitting $26.77. 477,028 shares of the company were exchanged, compared to its average volume of 635,603. The company has a fifty day simple moving average of $27.39 and a 200 day simple moving average of $27.20. World Kinect Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.70. 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 company has a market capitalization of $1.49 billion, a PE ratio of -3.51, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39.
World Kinect (NYSE:WKC - Get Free Report) last announced its quarterly 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 negative net margin of 1.11% and a positive return on equity of 7.07%. The firm had revenue of $9.04 billion for the quarter, compared to analyst estimates of $9.32 billion. As a group, equities analysts anticipate that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.
World Kinect Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were paid a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.0%. This is an increase from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio (DPR) is -10.48%.
Wall Street Analyst Weigh In
Several brokerages have commented on WKC. Morgan Stanley decreased their price target 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. Raymond James Financial reaffirmed an "outperform" rating and set a $33.00 price objective (down from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, World Kinect presently has a consensus rating of "Reduce" and a consensus target price of $29.40.
View Our Latest Research Report on World Kinect
About World Kinect
(
Free Report)
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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