World Kinect Corporation $WKC Position Boosted by Vest Financial LLC

Vest Financial LLC grew its holdings in shares of World Kinect Corporation (NYSE:WKC) by 24.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 73,975 shares of the company’s stock after purchasing an additional 14,754 shares during the period. Vest Financial LLC’s holdings in World Kinect were worth $2,097,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Teacher Retirement System of Texas boosted its position in shares of World Kinect by 94.5% during the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock valued at $946,000 after purchasing an additional 16,211 shares in the last quarter. Natixis Advisors LLC bought a new position in shares of World Kinect during the 1st quarter valued at about $405,000. CWA Asset Management Group LLC bought a new position in shares of World Kinect during the 1st quarter valued at about $490,000. Entropy Technologies LP bought a new position in shares of World Kinect during the 1st quarter valued at about $310,000. Finally, Strs Ohio bought a new position in shares of World Kinect during the 1st quarter valued at about $740,000. Institutional investors own 97.06% of the company’s stock.

Analyst Upgrades and Downgrades

WKC has been the subject of several recent analyst reports. Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a report on Wednesday, October 8th. Finally, Morgan Stanley decreased their target price on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $28.75.

World Kinect Price Performance

NYSE WKC opened at $25.30 on Wednesday. The company has a 50 day simple moving average of $26.01 and a 200-day simple moving average of $26.64. 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 firm has a market capitalization of $1.40 billion, a price-to-earnings ratio of -3.32, a price-to-earnings-growth ratio of 1.14 and a beta of 1.31. World Kinect Corporation has a 52-week low of $22.70 and a 52-week high of $31.64.

World Kinect (NYSE:WKC) last posted its quarterly 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. The business had revenue of $9.04 billion during the quarter, compared to analyst estimates 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 predict that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Announces Dividend

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 given a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. 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.