World Kinect Corporation $WKC Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in shares of World Kinect Corporation (NYSE:WKC) by 3.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,322,901 shares of the company’s stock after selling 41,740 shares during the period. Charles Schwab Investment Management Inc. owned 2.34% of World Kinect worth $37,517,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of WKC. LSV Asset Management lifted its stake in shares of World Kinect by 29.0% in the 1st 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 during the period. Jacobs Levy Equity Management Inc. lifted its stake in shares of World Kinect by 24.0% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,119,750 shares of the company’s stock worth $30,804,000 after acquiring an additional 216,903 shares during the period. Northern Trust Corp lifted its stake in shares of World Kinect by 6.2% in the 4th quarter. Northern Trust Corp now owns 702,751 shares of the company’s stock worth $19,333,000 after acquiring an additional 41,227 shares during the period. Ameriprise Financial Inc. lifted its stake in shares of World Kinect by 118.7% in the 4th quarter. Ameriprise Financial Inc. now owns 631,698 shares of the company’s stock worth $17,378,000 after acquiring an additional 342,823 shares during the period. Finally, Bridgeway Capital Management LLC lifted its stake in shares of World Kinect by 2.8% in the 4th quarter. Bridgeway Capital Management LLC now owns 569,103 shares of the company’s stock worth $15,656,000 after acquiring an additional 15,234 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Up 1.2%

Shares of NYSE WKC opened at $25.59 on Tuesday. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. World Kinect Corporation has a 52 week low of $22.70 and a 52 week high of $31.70. The firm has a 50-day moving average price of $27.70 and a 200 day moving average price of $27.30. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39.

World Kinect (NYSE:WKC) last announced its quarterly earnings data on Thursday, July 31st. The company reported $0.59 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 firm had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $9.32 billion. Equities research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th were issued a dividend of $0.20 per share. This is an increase from World Kinect’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect’s payout ratio is -10.48%.

Analyst Ratings Changes

Several research firms have recently commented on WKC. 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 research note on Friday, April 25th. Raymond James Financial restated an “outperform” rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Finally, Morgan Stanley reduced their price objective 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. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, World Kinect has an average rating of “Hold” and an average price target 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.