World Kinect Corporation $WKC Shares Purchased by LSV Asset Management

LSV Asset Management boosted its stake in shares of World Kinect Corporation (NYSE:WKC) by 5.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,637,239 shares of the company’s stock after purchasing an additional 87,197 shares during the period. LSV Asset Management owned approximately 2.95% of World Kinect worth $46,416,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WKC. First Horizon Advisors Inc. lifted its stake in shares of World Kinect by 188.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock valued at $28,000 after purchasing an additional 652 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in World Kinect during the 1st quarter worth approximately $32,000. Quarry LP purchased a new position in World Kinect in the first quarter valued at approximately $38,000. GAMMA Investing LLC lifted its position in World Kinect by 27.6% during the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after buying an additional 344 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its stake in World Kinect by 14.5% during the second quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock worth $113,000 after buying an additional 503 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

Wall Street Analysts Forecast Growth

WKC has been the topic of a number of research reports. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. 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. Weiss Ratings reissued a “sell (d)” rating on shares of World Kinect in a research report on Monday. Finally, Raymond James Financial restated 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. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Reduce” and a consensus target price of $28.75.

World Kinect Price Performance

WKC opened at $23.91 on Wednesday. World Kinect Corporation has a twelve month low of $22.70 and a twelve month high of $31.54. The firm has a market cap of $1.33 billion, a price-to-earnings ratio of -3.09, a PEG ratio of 1.31 and a beta of 1.32. 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 $25.63 and a 200 day simple moving average of $26.77.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The business’s quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.62 earnings per share. Equities research analysts expect that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.3%. World Kinect’s dividend payout ratio is currently -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.