Edgestream Partners L.P. Decreases Stake in World Kinect Corporation $WKC

Edgestream Partners L.P. cut its stake in shares of World Kinect Corporation (NYSE:WKC) by 25.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 141,290 shares of the company’s stock after selling 48,115 shares during the quarter. Edgestream Partners L.P. owned about 0.25% of World Kinect worth $4,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in World Kinect by 188.4% during the second quarter. First Horizon Advisors Inc. now owns 998 shares of the company’s stock worth $28,000 after buying an additional 652 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in World Kinect in the first quarter valued at about $32,000. Quarry LP acquired a new stake in shares of World Kinect during the 1st quarter valued at approximately $38,000. GAMMA Investing LLC boosted its stake in shares of World Kinect by 27.6% during the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock worth $45,000 after acquiring an additional 344 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of World Kinect by 14.5% in the 2nd quarter. Parkside Financial Bank & Trust now owns 3,976 shares of the company’s stock worth $113,000 after acquiring an additional 503 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Performance

World Kinect stock opened at $23.75 on Thursday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.99 and a current ratio of 1.15. The stock has a fifty day moving average of $25.08 and a two-hundred day moving average of $26.51. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of -3.07, a PEG ratio of 1.31 and a beta of 1.15. World Kinect Corporation has a fifty-two week low of $22.70 and a fifty-two week high of $31.54.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.61 by ($0.07). The company had revenue of $9.39 billion for the quarter, compared to analyst estimates of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The firm’s revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Tuesday, September 30th. World Kinect’s dividend payout ratio (DPR) is currently -10.34%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of World Kinect in a report on Monday, November 24th. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, October 28th. Finally, Morgan Stanley decreased their price objective on shares of 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 research analyst has rated the stock with a Buy rating, two have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and a consensus target price of $28.75.

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.