XTX Topco Ltd Buys Shares of 29,242 World Kinect Corporation (NYSE:WKC)

Key Points

• XTX Topco Ltd acquired a new stake in World Kinect Corporation during the 1st quarter, purchasing 29,242 shares valued at approximately $829,000.
• The company reported $0.59 earnings per share for the last quarter, surpassing analysts' expectations of $0.48, but had revenue of $9.04 billion, below the anticipated $9.32 billion.
• World Kinect recently increased its quarterly dividend from $0.17 to $0.20 per share, resulting in an annualized yield of 3.2%.

XTX Topco Ltd bought a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 29,242 shares of the company's stock, valued at approximately $829,000. XTX Topco Ltd owned approximately 0.05% of World Kinect at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Headlands Technologies LLC purchased a new position in World Kinect in the 4th quarter valued at $48,000. EP Wealth Advisors LLC lifted its holdings in 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 purchasing an additional 1,104 shares in the last quarter. Eukles Asset Management lifted its holdings in 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 purchasing an additional 1,165 shares in the last quarter. Quantinno Capital Management LP purchased a new position in World Kinect in the 4th quarter valued at $224,000. Finally, Cetera Investment Advisers purchased a new position in World Kinect in the 4th quarter valued at $242,000. Hedge funds and other institutional investors own 97.06% of the company's stock.

World Kinect Trading Up 1.0%

Shares of WKC traded up $0.25 during midday trading on Friday, reaching $25.43. The company had a trading volume of 249,289 shares, compared to its average volume of 709,854. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.70. The stock has a market cap of $1.41 billion, a PE ratio of -3.33, a price-to-earnings-growth ratio of 1.14 and a beta of 1.39. The firm has a 50 day simple moving average of $27.99 and a 200-day simple moving average of $27.47. 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 (NYSE:WKC - Get Free Report) last issued its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. Research analysts forecast that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend was Tuesday, June 17th. This is a positive change from World Kinect's previous quarterly dividend of $0.17. World Kinect's dividend payout ratio is -10.48%.

Wall Street Analysts Forecast Growth

WKC has been the topic of a number of research reports. Raymond James Financial restated 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. Morgan Stanley decreased 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. Finally, Bank of America decreased 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. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, World Kinect has an average rating of "Hold" and an average price target of $29.40.

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.