Corton Capital Inc. Acquires Shares of 11,108 World Kinect Corporation $WKC

Corton Capital Inc. purchased a new position in shares of World Kinect Corporation (NYSE:WKC) during the second quarter, HoldingsChannel.com reports. The institutional investor purchased 11,108 shares of the company’s stock, valued at approximately $315,000.

A number of other institutional investors and hedge funds have also made changes to their positions in WKC. LSV Asset Management boosted its position in shares of World Kinect by 29.0% in the first quarter. LSV Asset Management now owns 1,550,042 shares of the company’s stock worth $43,959,000 after acquiring an additional 348,214 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in World Kinect by 1.1% in the first quarter. Bridgeway Capital Management LLC now owns 575,621 shares of the company’s stock valued at $16,325,000 after buying an additional 6,518 shares during the period. Cubist Systematic Strategies LLC raised its holdings in World Kinect by 263.4% in the first quarter. Cubist Systematic Strategies LLC now owns 573,716 shares of the company’s stock valued at $16,271,000 after buying an additional 415,837 shares during the period. Millennium Management LLC raised its holdings in World Kinect by 3.3% in the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock valued at $14,909,000 after buying an additional 16,738 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in World Kinect in the second quarter valued at approximately $11,250,000. 97.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on WKC. Morgan Stanley cut their price target on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Finally, Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and a consensus price target of $28.75.

World Kinect Stock Down 0.2%

Shares of NYSE:WKC opened at $25.84 on Monday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a fifty day simple moving average of $26.02 and a 200 day simple moving average of $26.71. The firm 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. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.54.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, October 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The company had revenue of $9.39 billion during the quarter, compared to the consensus estimate of $9.38 billion. World Kinect had a positive return on equity of 7.11% and a negative net margin of 1.16%.The firm’s quarterly revenue was down 10.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.62 EPS. On average, 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 declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date was Tuesday, September 30th. World Kinect’s payout ratio is -10.34%.

About World Kinect

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.