46,555 Shares in World Kinect Corporation $WKC Purchased by Castlekeep Investment Advisors LLC

Castlekeep Investment Advisors LLC bought a new position in shares of World Kinect Corporation (NYSE:WKC) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,555 shares of the company’s stock, valued at approximately $1,320,000. Castlekeep Investment Advisors LLC owned 0.08% of World Kinect as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd acquired a new stake in World Kinect in the first quarter valued at approximately $32,000. Quarry LP acquired a new stake in World Kinect in the first quarter valued at approximately $38,000. GAMMA Investing LLC grew its holdings in World Kinect by 27.6% in the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after purchasing an additional 344 shares during the period. PNC Financial Services Group Inc. grew its holdings in World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after purchasing an additional 2,925 shares during the period. Finally, AlphaQuest LLC grew its holdings in World Kinect by 576.8% in the first quarter. AlphaQuest LLC now owns 6,680 shares of the company’s stock valued at $189,000 after purchasing an additional 5,693 shares during the period. 97.06% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on the company. Morgan Stanley dropped 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, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $33.00 price objective (down from $35.00) on shares of World Kinect in a report on Friday, August 1st. Zacks Research downgraded World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Reduce” and a consensus target price of $28.75.

World Kinect Stock Performance

NYSE WKC opened at $25.84 on Friday. The company has a market cap of $1.44 billion, a PE ratio of -3.34, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31. The stock’s 50 day simple moving average is $26.02 and its 200-day simple moving average is $26.69. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.54. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99.

World Kinect (NYSE:WKC) last released its earnings results on Thursday, October 23rd. The company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.61 by ($0.07). World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter last year, the business earned $0.62 EPS. The business’s revenue was down 10.5% compared to the same quarter last year. As a group, equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

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.