World Kinect Corporation $WKC Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. decreased its holdings in shares of World Kinect Corporation (NYSE:WKC) by 25.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 141,290 shares of the company’s stock after selling 48,115 shares during the period. Edgestream Partners L.P.’s holdings in World Kinect were worth $4,006,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers boosted its stake in World Kinect by 5.1% in the 1st quarter. Cetera Investment Advisers now owns 9,250 shares of the company’s stock worth $262,000 after buying an additional 451 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of World Kinect by 11.7% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,395 shares of the company’s stock worth $493,000 after acquiring an additional 1,826 shares during the last quarter. Mackenzie Financial Corp grew its holdings in World Kinect by 22.2% in the first quarter. Mackenzie Financial Corp now owns 24,742 shares of the company’s stock valued at $702,000 after purchasing an additional 4,490 shares during the period. Federated Hermes Inc. grew its holdings in World Kinect by 2.2% in the first quarter. Federated Hermes Inc. now owns 90,454 shares of the company’s stock valued at $2,565,000 after purchasing an additional 1,906 shares during the period. Finally, Natixis Advisors LLC acquired a new position in World Kinect during the first quarter worth approximately $405,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Stock Performance

NYSE:WKC opened at $23.75 on Thursday. The firm has a 50-day moving average of $25.08 and a two-hundred day moving average of $26.51. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.15 and a quick ratio of 0.99. The stock has a market cap of $1.32 billion, a P/E ratio of -3.07, a PEG ratio of 1.31 and a beta of 1.15. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.54.

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

World Kinect Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 16th. Stockholders 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 was Tuesday, September 30th. World Kinect’s dividend payout ratio is -10.34%.

Analysts Set New Price Targets

WKC has been the topic of a number of research analyst reports. Zacks Research lowered shares of World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Morgan Stanley reduced their target price on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of World Kinect in a research note on Monday, November 24th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average price target of $28.75.

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.