26,452 Shares in World Kinect Corporation $WKC Bought by Counterpoint Mutual Funds LLC

Counterpoint Mutual Funds LLC bought a new position in World Kinect Corporation (NYSE:WKC) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 26,452 shares of the company’s stock, valued at approximately $750,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WKC. Cubist Systematic Strategies LLC grew its position in World Kinect by 263.4% in the first quarter. Cubist Systematic Strategies LLC now owns 573,716 shares of the company’s stock worth $16,271,000 after acquiring an additional 415,837 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in World Kinect in the second quarter worth $11,250,000. Two Sigma Investments LP grew its position in World Kinect by 311.1% in the fourth quarter. Two Sigma Investments LP now owns 260,864 shares of the company’s stock worth $7,176,000 after acquiring an additional 384,413 shares in the last quarter. LSV Asset Management grew its position in 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 in the last quarter. Finally, Nuveen LLC bought a new stake in World Kinect in the first quarter worth $7,825,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley lowered 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 note on Wednesday, August 6th. Raymond James Financial reissued an “outperform” rating and issued a $33.00 price target (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Reduce” and an average price target of $28.75.

World Kinect Price Performance

Shares of NYSE WKC opened at $26.08 on Tuesday. World Kinect Corporation has a 1 year low of $22.70 and a 1 year high of $31.64. 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 company’s 50-day moving average is $26.60 and its 200 day moving average is $26.91. The stock has a market capitalization of $1.45 billion, a P/E ratio of -3.42, a P/E/G ratio of 1.20 and a beta of 1.38.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.48 by $0.11. World Kinect had a negative net margin of 1.11% and a positive return on equity of 7.07%. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $9.32 billion. On average, sell-side analysts expect that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 annualized dividend and a dividend yield of 3.1%. World Kinect’s payout ratio is currently -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.