Vest Financial LLC Purchases New Shares in World Kinect Co. (NYSE:WKC)

Vest Financial LLC bought a new stake in shares of World Kinect Co. (NYSE:WKC) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 59,221 shares of the company’s stock, valued at approximately $1,680,000. Vest Financial LLC owned approximately 0.10% of World Kinect at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. QRG Capital Management Inc. raised its position in World Kinect by 3.7% in the 4th quarter. QRG Capital Management Inc. now owns 14,543 shares of the company’s stock worth $400,000 after buying an additional 517 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of World Kinect by 2.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 32,475 shares of the company’s stock valued at $893,000 after acquiring an additional 707 shares during the period. Vident Advisory LLC grew its stake in shares of World Kinect by 4.4% during the 4th quarter. Vident Advisory LLC now owns 17,831 shares of the company’s stock valued at $491,000 after acquiring an additional 748 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its stake in World Kinect by 3.0% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 32,176 shares of the company’s stock worth $885,000 after purchasing an additional 947 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in World Kinect by 5.1% in the 4th quarter. Mackenzie Financial Corp now owns 20,252 shares of the company’s stock worth $557,000 after purchasing an additional 990 shares during the period. Institutional investors own 97.06% of the company’s stock.

World Kinect Price Performance

WKC opened at $28.04 on Friday. The business’s 50-day moving average is $25.90 and its two-hundred day moving average is $27.45. World Kinect Co. has a 1 year low of $22.71 and a 1 year high of $31.71. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.16 and a quick ratio of 0.99. The firm has a market capitalization of $1.59 billion, a PE ratio of 26.45, a price-to-earnings-growth ratio of 0.89 and a beta of 1.35.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, April 24th. The company reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.03. The company had revenue of $9.45 billion for the quarter, compared to analyst estimates of $10.47 billion. World Kinect had a return on equity of 6.43% and a net margin of 0.16%. The firm’s quarterly revenue was down 13.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Research analysts anticipate that World Kinect Co. will post 2.56 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 16th. Shareholders of record on Tuesday, June 17th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Tuesday, June 17th. This is an increase from World Kinect’s previous quarterly dividend of $0.17. World Kinect’s dividend payout ratio (DPR) is currently 283.33%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Stifel Nicolaus dropped their price target on World Kinect from $32.00 to $30.00 and set a “hold” rating for the company in a research note on Friday, February 21st. Bank of America reduced their target price on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th.

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.