VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in World Kinect Corporation $WKC

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in World Kinect Corporation (NYSE:WKC) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 54,100 shares of the company’s stock, valued at approximately $1,534,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.10% of World Kinect as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Highland Capital Management LLC increased its position in shares of World Kinect by 25.4% during the 1st quarter. Highland Capital Management LLC now owns 10,945 shares of the company’s stock valued at $310,000 after purchasing an additional 2,217 shares during the last quarter. Teacher Retirement System of Texas increased its position in shares of World Kinect by 94.5% during the 1st quarter. Teacher Retirement System of Texas now owns 33,372 shares of the company’s stock valued at $946,000 after purchasing an additional 16,211 shares during the last quarter. Eukles Asset Management increased its position in shares of World Kinect by 17.6% during the 1st quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock valued at $221,000 after purchasing an additional 1,165 shares during the last quarter. Nisa Investment Advisors LLC increased its position in shares of World Kinect by 0.8% during the 1st quarter. Nisa Investment Advisors LLC now owns 63,073 shares of the company’s stock valued at $1,799,000 after purchasing an additional 509 shares during the last quarter. Finally, Edgestream Partners L.P. increased its position in shares of World Kinect by 2,373.0% during the 1st quarter. Edgestream Partners L.P. now owns 189,405 shares of the company’s stock valued at $5,372,000 after purchasing an additional 181,746 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Trading Up 0.5%

WKC stock opened at $25.63 on Thursday. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.54. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.36, a PEG ratio of 1.16 and a beta of 1.31. The business has a 50 day simple moving average of $26.00 and a two-hundred day simple moving average of $26.56.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 31st. The company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%.The business had revenue of $9.04 billion during the quarter, compared to the consensus estimate of $9.32 billion. Research analysts anticipate that World Kinect Corporation will post 2.56 EPS for the current fiscal year.

World Kinect Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th were paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.1%. The ex-dividend date was Tuesday, September 30th. World Kinect’s dividend payout ratio is presently -10.48%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Raymond James Financial reaffirmed an “outperform” rating and set a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. Zacks Research raised shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Morgan Stanley reduced their price target 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. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of World Kinect in a report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $28.75.

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.