Johnson Investment Counsel Inc. Boosts Holdings in World Kinect Corporation $WKC

Johnson Investment Counsel Inc. lifted its holdings in World Kinect Corporation (NYSE:WKC) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,334 shares of the company’s stock after buying an additional 844 shares during the period. Johnson Investment Counsel Inc. owned approximately 0.19% of World Kinect worth $3,128,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. GAMMA Investing LLC lifted its stake in shares of World Kinect by 27.6% in the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after buying an additional 344 shares in the last quarter. Cetera Investment Advisers lifted its stake in shares of World Kinect by 5.1% in the first quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock worth $262,000 after buying an additional 451 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in shares of World Kinect by 0.8% in the first quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock worth $1,799,000 after buying an additional 509 shares in the last quarter. SummerHaven Investment Management LLC lifted its stake in shares of World Kinect by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 31,646 shares of the company’s stock worth $897,000 after buying an additional 597 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd purchased a new position in shares of World Kinect in the first quarter worth about $32,000. 97.06% of the stock is owned by hedge funds and other institutional investors.

World Kinect Price Performance

Shares of WKC opened at $24.78 on Monday. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.64. The stock has a market cap of $1.38 billion, a PE ratio of -3.25, a P/E/G ratio of 1.12 and a beta of 1.31. The firm has a 50-day simple moving average of $26.01 and a two-hundred day simple moving average of $26.67. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98.

World Kinect (NYSE:WKC) last announced its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $9.32 billion. As a group, analysts forecast that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Investors of record on Tuesday, September 30th will be issued a $0.20 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. World Kinect’s payout ratio is -10.48%.

Wall Street Analysts Forecast Growth

WKC has been the topic of a number of analyst reports. Zacks Research raised shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 target price (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday, October 8th. Finally, Morgan Stanley reduced their target price on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $28.75.

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.