World Kinect Corporation $WKC Shares Purchased by Johnson Investment Counsel Inc.

Johnson Investment Counsel Inc. raised its position in World Kinect Corporation (NYSE:WKC) by 0.8% in the second quarter, Holdings Channel reports. The fund owned 110,334 shares of the company’s stock after buying an additional 844 shares during the period. Johnson Investment Counsel Inc.’s holdings in World Kinect were worth $3,128,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in WKC. GAMMA Investing LLC lifted its stake in World Kinect by 3,742.0% in the first quarter. GAMMA Investing LLC now owns 35,308 shares of the company’s stock worth $1,001,000 after acquiring an additional 34,389 shares during the last quarter. QRG Capital Management Inc. lifted its stake in World Kinect by 9.9% in the first quarter. QRG Capital Management Inc. now owns 15,982 shares of the company’s stock worth $453,000 after acquiring an additional 1,439 shares during the last quarter. CWA Asset Management Group LLC purchased a new position in World Kinect in the first quarter worth approximately $490,000. Highland Capital Management LLC lifted its stake in World Kinect by 25.4% in the first quarter. Highland Capital Management LLC now owns 10,945 shares of the company’s stock worth $310,000 after acquiring an additional 2,217 shares during the last quarter. Finally, Teacher Retirement System of Texas lifted its stake in World Kinect by 94.5% in 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. Hedge funds and other institutional investors own 97.06% of the company’s stock.

World Kinect Stock Down 1.6%

WKC stock opened at $24.78 on Monday. The company has a fifty day moving average price of $26.01 and a 200 day moving average price of $26.67. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.64. The company has a market cap of $1.38 billion, a price-to-earnings ratio of -3.25, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.13 and a quick ratio of 0.98.

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

World Kinect Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 3.2%. The ex-dividend date of this dividend is Tuesday, September 30th. World Kinect’s payout ratio is currently -10.48%.

Analyst Ratings Changes

WKC has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research report on Wednesday, October 8th. Zacks Research upgraded 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 objective 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, Raymond James Financial restated an “outperform” rating and set a $33.00 price objective (down previously from $35.00) on shares of World Kinect in a research report on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus 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.