Atria Investments Inc Cuts Stake in World Kinect Corporation $WKC

Atria Investments Inc cut its holdings in shares of World Kinect Corporation (NYSE:WKC) by 14.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 29,578 shares of the company’s stock after selling 5,115 shares during the period. Atria Investments Inc’s holdings in World Kinect were worth $839,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WKC. Teacher Retirement System of Texas raised its stake in shares of World Kinect by 471.0% in the second quarter. Teacher Retirement System of Texas now owns 190,551 shares of the company’s stock valued at $5,402,000 after acquiring an additional 157,179 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in World Kinect in the 2nd quarter valued at about $3,615,000. State of New Jersey Common Pension Fund D boosted its stake in shares of World Kinect by 9.8% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 69,448 shares of the company’s stock valued at $1,969,000 after buying an additional 6,187 shares during the period. AlphaQuest LLC grew its position in shares of World Kinect by 541.8% during the second quarter. AlphaQuest LLC now owns 42,871 shares of the company’s stock worth $1,215,000 after buying an additional 36,191 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of World Kinect during the second quarter worth approximately $1,534,000. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Stock Performance

NYSE WKC opened at $25.53 on Friday. The company has a fifty day moving average of $25.93 and a two-hundred day moving average of $26.75. The company has a market capitalization of $1.42 billion, a PE ratio of -3.30, a P/E/G ratio of 1.31 and a beta of 1.32. 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 0.47, a current ratio of 1.15 and a quick ratio of 0.99.

World Kinect (NYSE:WKC) last posted its earnings results 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 during the quarter, compared to analysts’ expectations of $9.38 billion. World Kinect had a negative net margin of 1.16% and a positive return on equity of 7.11%. The firm’s revenue for the quarter was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.62 earnings per share. As a group, 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 paid a $0.20 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $0.80 dividend on an annualized basis and a yield of 3.1%. World Kinect’s payout ratio is currently -10.34%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Raymond James Financial reiterated 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. Morgan Stanley reduced their price objective on shares of World Kinect from $32.00 to $26.00 and set an “underweight” rating on the stock in a report on Wednesday, August 6th. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of World Kinect in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Reduce” and an average 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.