275,924 Shares in World Kinect Corporation $WKC Acquired by Nuveen LLC

Nuveen LLC acquired a new position in World Kinect Corporation (NYSE:WKC) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 275,924 shares of the company’s stock, valued at approximately $7,825,000. Nuveen LLC owned approximately 0.49% of World Kinect at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in WKC. Entropy Technologies LP bought a new position in World Kinect during the 1st quarter valued at $310,000. PNC Financial Services Group Inc. boosted its stake in World Kinect by 86.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after purchasing an additional 2,925 shares in the last quarter. LSV Asset Management boosted its stake in World Kinect by 29.0% during the 1st quarter. LSV Asset Management now owns 1,550,042 shares of the company’s stock valued at $43,959,000 after purchasing an additional 348,214 shares in the last quarter. US Bancorp DE boosted its stake in World Kinect by 50.3% during the 1st quarter. US Bancorp DE now owns 16,321 shares of the company’s stock valued at $463,000 after purchasing an additional 5,465 shares in the last quarter. Finally, Natixis Advisors LLC bought a new position in World Kinect during the 1st quarter valued at $405,000. 97.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price target (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, World Kinect presently has an average rating of “Reduce” and an average target price of $29.40.

World Kinect Price Performance

Shares of NYSE:WKC opened at $26.7030 on Monday. World Kinect Corporation has a one year low of $22.70 and a one year high of $31.70. The stock has a fifty day moving average of $27.52 and a 200-day moving average of $27.24. The company has a market capitalization of $1.48 billion, a PE ratio of -3.50, a price-to-earnings-growth ratio of 1.21 and a beta of 1.39. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.98 and a current ratio of 1.13.

World Kinect (NYSE:WKC) last announced its quarterly earnings data 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 company had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. As a group, equities analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Stockholders of record on Tuesday, June 17th were given a dividend of $0.20 per share. This is a boost from World Kinect’s previous quarterly dividend of $0.17. The ex-dividend date was Tuesday, June 17th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. World Kinect’s payout ratio is currently -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.