New Age Alpha Advisors LLC Cuts Holdings in World Kinect Corporation (NYSE:WKC)

New Age Alpha Advisors LLC cut its position in shares of World Kinect Corporation (NYSE:WKC) by 52.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,690 shares of the company’s stock after selling 1,857 shares during the quarter. New Age Alpha Advisors LLC’s holdings in World Kinect were worth $48,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its stake in World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after acquiring an additional 2,925 shares during the last quarter. LSV Asset Management boosted its stake in World Kinect by 29.0% in the first quarter. LSV Asset Management now owns 1,550,042 shares of the company’s stock valued at $43,959,000 after acquiring an additional 348,214 shares during the last quarter. US Bancorp DE boosted its stake in World Kinect by 50.3% in the first quarter. US Bancorp DE now owns 16,321 shares of the company’s stock valued at $463,000 after acquiring an additional 5,465 shares during the last quarter. Natixis Advisors LLC purchased a new position in World Kinect in the first quarter valued at about $405,000. Finally, XTX Topco Ltd purchased a new position in World Kinect in the first quarter valued at about $829,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

World Kinect Stock Performance

Shares of WKC stock opened at $25.09 on Tuesday. The stock has a market capitalization of $1.39 billion, a P/E ratio of -3.29, a PEG ratio of 1.15 and a beta of 1.39. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48. The firm’s 50 day moving average is $27.91 and its 200 day moving average is $27.41. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70.

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

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Tuesday, June 17th. This is an increase from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s dividend payout ratio is currently -10.48%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on WKC shares. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 target price (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Morgan Stanley dropped 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. Finally, Bank of America dropped their target price on shares of World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.40.

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.