Cetera Investment Advisers Buys 451 Shares of World Kinect Corporation $WKC

Cetera Investment Advisers boosted its stake in World Kinect Corporation (NYSE:WKC) by 5.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,250 shares of the company’s stock after acquiring an additional 451 shares during the period. Cetera Investment Advisers’ holdings in World Kinect were worth $262,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WKC. EP Wealth Advisors LLC lifted its stake in World Kinect by 17.0% in the fourth quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock valued at $209,000 after buying an additional 1,104 shares during the period. Eukles Asset Management lifted its stake in World Kinect by 17.6% in the first quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock valued at $221,000 after buying an additional 1,165 shares during the period. Quantinno Capital Management LP acquired a new position in World Kinect in the fourth quarter valued at approximately $224,000. Syon Capital LLC acquired a new position in World Kinect in the fourth quarter valued at approximately $273,000. Finally, Highland Capital Management LLC lifted its stake in World Kinect by 25.4% in the first quarter. Highland Capital Management LLC now owns 10,945 shares of the company’s stock valued at $310,000 after buying an additional 2,217 shares during the period. 97.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America lowered their target price on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research report on Friday, April 25th. 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 report on Friday, August 1st. Finally, Morgan Stanley lowered their target price on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, World Kinect has an average rating of “Reduce” and a consensus price target of $29.40.

World Kinect Trading Down 0.1%

NYSE WKC opened at $25.8080 on Thursday. The firm has a market capitalization of $1.43 billion, a P/E ratio of -3.38, a PEG ratio of 1.17 and a beta of 1.39. The business has a fifty day simple moving average of $27.59 and a 200 day simple moving average of $27.28. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.70. The company has a current ratio of 1.13, a quick ratio of 0.98 and a debt-to-equity ratio of 0.48.

World Kinect (NYSE:WKC) last released 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. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The business had revenue of $9.04 billion during the quarter, compared to analyst estimates of $9.32 billion. On average, analysts predict 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. Stockholders 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 3.1%. The ex-dividend date was Tuesday, June 17th. This is a positive change from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s dividend payout ratio (DPR) is presently -10.48%.

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.