GAMMA Investing LLC Has $1 Million Stock Position in World Kinect Co. (NYSE:WKC)

GAMMA Investing LLC increased its position in shares of World Kinect Co. (NYSE:WKC) by 3,742.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 35,308 shares of the company’s stock after purchasing an additional 34,389 shares during the quarter. GAMMA Investing LLC owned approximately 0.06% of World Kinect worth $1,001,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of WKC. Sei Investments Co. boosted its stake in shares of World Kinect by 49.9% in the 4th quarter. Sei Investments Co. now owns 32,860 shares of the company’s stock valued at $904,000 after purchasing an additional 10,944 shares in the last quarter. ExodusPoint Capital Management LP purchased a new stake in shares of World Kinect during the 4th quarter valued at about $2,978,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of World Kinect during the 4th quarter valued at about $1,725,000. Deutsche Bank AG boosted its holdings in shares of World Kinect by 117.6% in the fourth quarter. Deutsche Bank AG now owns 105,780 shares of the company’s stock worth $2,910,000 after buying an additional 57,179 shares during the last quarter. Finally, Aquatic Capital Management LLC raised its stake in World Kinect by 443.9% during the 4th quarter. Aquatic Capital Management LLC now owns 36,985 shares of the company’s stock worth $1,017,000 after acquiring an additional 30,185 shares during the period. Institutional investors own 97.06% of the company’s stock.

World Kinect Stock Up 1.5%

Shares of WKC opened at $28.42 on Tuesday. The stock has a fifty day simple moving average of $26.26 and a two-hundred day simple moving average of $27.41. The company has a quick ratio of 0.99, a current ratio of 1.16 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $1.61 billion, a PE ratio of 26.81, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35. World Kinect Co. has a 52-week low of $22.71 and a 52-week high of $31.71.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The business had revenue of $9.45 billion during the quarter, compared to analysts’ expectations of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The business’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. As a group, equities analysts forecast that World Kinect Co. will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be paid a $0.20 dividend. The ex-dividend date is Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a yield of 2.81%. This is a boost from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s payout ratio is currently 333.33%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on WKC shares. Stifel Nicolaus reduced their price objective on shares of World Kinect from $32.00 to $30.00 and set a “hold” rating on the stock in a research report on Friday, February 21st. Bank of America reduced their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating for the company in a report on Friday, April 25th.

World Kinect Company 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.