State of New Jersey Common Pension Fund D Has $1.97 Million Holdings in World Kinect Corporation $WKC

State of New Jersey Common Pension Fund D increased its stake in World Kinect Corporation (NYSE:WKC) by 9.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 69,448 shares of the company’s stock after buying an additional 6,187 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in World Kinect were worth $1,969,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in WKC. Caitong International Asset Management Co. Ltd acquired a new stake in shares of World Kinect in the 1st quarter valued at approximately $32,000. Quarry LP acquired a new stake in shares of World Kinect in the 1st quarter valued at approximately $38,000. GAMMA Investing LLC boosted its holdings in shares of World Kinect by 27.6% in the 2nd quarter. GAMMA Investing LLC now owns 1,589 shares of the company’s stock valued at $45,000 after buying an additional 344 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of World Kinect by 86.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,307 shares of the company’s stock valued at $179,000 after buying an additional 2,925 shares during the last quarter. Finally, AlphaQuest LLC boosted its holdings in shares of World Kinect by 576.8% in the 1st quarter. AlphaQuest LLC now owns 6,680 shares of the company’s stock valued at $189,000 after buying an additional 5,693 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Up 0.9%

WKC opened at $25.90 on Friday. The company has a current ratio of 1.15, a quick ratio of 0.99 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.44 billion, a PE ratio of -3.35, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31. The stock’s fifty day simple moving average is $26.04 and its 200 day simple moving average is $26.66. World Kinect Corporation has a 1-year low of $22.70 and a 1-year high of $31.54.

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

World Kinect Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 16th. Shareholders of record on Tuesday, September 30th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 annualized dividend and a yield of 3.1%. World Kinect’s dividend payout ratio (DPR) is presently -10.34%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on WKC. Morgan Stanley dropped their price target on World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a research note on Wednesday, August 6th. Zacks Research cut World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Raymond James Financial restated an “outperform” rating and issued a $33.00 price target (down previously from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce” and a consensus target price 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.