46,555 Shares in World Kinect Corporation $WKC Acquired by Castlekeep Investment Advisors LLC

by · The Cerbat Gem

Castlekeep Investment Advisors LLC acquired a new position in shares of World Kinect Corporation (NYSE:WKC – Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 46,555 shares of the company’s stock, valued at approximately $1,320,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas increased its stake in World Kinect by 94.5% during the first quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock worth $946,000 after acquiring an additional 16,211 shares during the last quarter. Natixis Advisors LLC acquired a new stake in World Kinect during the first quarter worth $405,000. Entropy Technologies LP acquired a new stake in World Kinect during the first quarter worth $310,000. Strs Ohio acquired a new stake in World Kinect during the first quarter worth $740,000. Finally, Russell Investments Group Ltd. increased its stake in World Kinect by 60.6% during the first quarter. Russell Investments Group Ltd. now owns 87,902 shares of the company’s stock worth $2,493,000 after acquiring an additional 33,159 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Morgan Stanley cut their target price 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a report on Wednesday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $33.00 target price (down previously from $35.00) on shares of World Kinect in a report on Friday, August 1st. Finally, Zacks Research downgraded World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, World Kinect presently has an average rating of “Reduce” and an average target price of $28.75.

View Our Latest Report on WKC

World Kinect Price Performance

WKC stock opened at $25.84 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The company has a market capitalization of $1.44 billion, a PE ratio of -3.34, a P/E/G ratio of 1.31 and a beta of 1.31. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.54. The business’s fifty day moving average price is $26.02 and its 200 day moving average price is $26.69.

World Kinect (NYSE:WKC – Get Free Report) last posted its quarterly earnings data on Thursday, October 23rd. The company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.61 by ($0.07). World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The firm had revenue of $9.39 billion during the quarter, compared to analysts’ expectations of $9.38 billion. During the same quarter in the prior year, the firm posted $0.62 EPS. World Kinect’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, sell-side analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current year.

World Kinect Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Investors of record on Tuesday, September 30th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date of this dividend was Tuesday, September 30th. World Kinect’s payout ratio is presently -10.34%.

About World Kinect

(Free Report)

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.

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