Pflug Koory LLC Takes $227,000 Position in World Kinect Corporation $WKC

Pflug Koory LLC acquired a new stake in World Kinect Corporation (NYSE:WKC) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,000 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Caitong International Asset Management Co. Ltd purchased a new stake in shares of World Kinect in the first quarter valued at $32,000. Quarry LP purchased a new stake in shares of World Kinect in the first quarter valued at $38,000. GAMMA Investing LLC grew its position in shares of World Kinect by 27.6% in the second quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after purchasing an additional 344 shares during the period. PNC Financial Services Group Inc. grew its position in shares of World Kinect by 86.5% in the first quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after purchasing an additional 2,925 shares during the period. Finally, AlphaQuest LLC grew its position in shares of World Kinect by 576.8% in the first quarter. AlphaQuest LLC now owns 6,680 shares of the company’s stock valued at $189,000 after purchasing an additional 5,693 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Wall Street Analyst Weigh In

WKC has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price objective on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research report on Wednesday, August 6th. 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. Weiss Ratings reiterated a “sell (d+)” rating on shares of World Kinect in a report on Saturday, September 27th. Finally, Zacks Research upgraded World Kinect from a “hold” rating to a “strong-buy” rating in a report on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $28.75.

World Kinect Trading Up 0.1%

Shares of WKC opened at $26.10 on Friday. The stock’s 50-day moving average is $26.20 and its two-hundred day moving average is $26.80. The stock has a market cap of $1.45 billion, a PE ratio of -3.42, a P/E/G ratio of 1.18 and a beta of 1.31. World Kinect Corporation has a 12 month low of $22.70 and a 12 month high of $31.64. 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 issued its quarterly earnings data on Thursday, July 31st. The company reported $0.59 EPS for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. The company had revenue of $9.04 billion for the quarter, compared to analysts’ expectations of $9.32 billion. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. Equities analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current fiscal year.

World Kinect Dividend Announcement

The business 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 dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date is Tuesday, September 30th. World Kinect’s payout ratio is currently -10.48%.

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.