World Kinect Corporation $WKC Shares Bought by Russell Investments Group Ltd.

Russell Investments Group Ltd. boosted its stake in shares of World Kinect Corporation (NYSE:WKC) by 60.6% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 87,902 shares of the company’s stock after acquiring an additional 33,159 shares during the period. Russell Investments Group Ltd. owned about 0.16% of World Kinect worth $2,493,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in WKC. PNC Financial Services Group Inc. raised its position in World Kinect by 86.5% during the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock worth $179,000 after acquiring an additional 2,925 shares during the period. EP Wealth Advisors LLC raised its position in shares of 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 last quarter. Eukles Asset Management raised its position in shares of 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 last quarter. Quantinno Capital Management LP acquired a new stake in shares of World Kinect in the fourth quarter valued at about $224,000. Finally, Cetera Investment Advisers acquired a new stake in shares of World Kinect in the fourth quarter valued at about $242,000. 97.06% of the stock is currently owned by institutional investors and hedge funds.

World Kinect Trading Up 3.4%

Shares of WKC opened at $26.7030 on Monday. 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 Corporation has a 12-month low of $22.70 and a 12-month high of $31.70. The firm has a 50-day moving average price of $27.52 and a 200 day moving average price of $27.24. The firm has a market capitalization of $1.48 billion, a P/E ratio of -3.50, a P/E/G ratio of 1.21 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.32 billion. Sell-side analysts forecast that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were issued a $0.20 dividend. This is an increase from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.0%. The ex-dividend date of this dividend was Tuesday, June 17th. World Kinect’s payout ratio is currently -10.48%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on WKC. 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 report on Friday, August 1st. Morgan Stanley reduced their target price on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, August 6th. One equities research 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, the stock currently has an average rating of “Reduce” and a consensus price target of $29.40.

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.